Trade Entry Feb. 14 Expiry. Put Credit Spread. 59/64 Strikes. Credit of $3.00 (no lower than $2.90) Risk $210. Reward $290-$300. POP - 65%
Chart Details Large $10 gap from $71-$81. This must get filled IMO. White trendline is stop. Break of white trendline and trade above is invalid ($59.50 or less). Bullish EMA cross just occurred last Friday, 1/10. Bullish 10WeekMA price cross with Bullish EMA Cross is 80% guaranteed or greater IMO. Earnings play. Expected reporting date may be Feb. 24, not March. 3 (as shown on TradingView). Need to confirm as we get nearer. Source Zacks- zacks.com/stock/quote/SHAK?q=shak
Credit to Bullishcharts for this idea after discussing BYND . Maybe we can both profit off a real meat rally, just like we did off the fake meat rally. LOL
I will update if I enter this trade personally. If I enter personally, I will provide updates as we go :)
About Me Thank you for liking, commenting, throwing up a chart, following, or viewing. I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts. Website will be ready for launch mid-January 2020. Disclosure - I am long BTCUSD, GBTC. Short term GDX Bullish, SPXS Bullish, MCD Bullish
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Opening order credit of $3.20. 2 Contracts. Close order $1.44. Profit $349.05 on 2 contract spread. 1 day hold.