Open position at $8.35
Stop loss at $8
Take profit at $9.8
If you want to test my strategy out,
try to paper trade this, get the mobile paper trading app call webull, see link below.( it's like robinhood with free trading but they have paper trading feature on the app.)
copy and paste this in address link for free stock and paper trading. act.webull.com/i/7e5Q6QYdcXz1
Why this play?
Spy is running ath, so i usually like to use this as a hedge, plus the daily rsi is super low, it's gotta reset.
More about our plays
Everything I charted out is something that I am personally betting my money on along with my clients and our group.
if you choose to play it out and it work's out for you.
Im glad that we both make money =), if it doesn't work out, I am sorry. These play's are always to minimize loss while maintaining a higher reward.
I personally play these on common stocks but you can find an option play for them too.
Just make sure to buy 2 week out expiration, not too close to the money so you don't get kill by theta and delta.
if the stock is at $50, do like 5% out ($47.50)