META Retested Falling Wedge and SMA 50 Roll Up - Calls

2022年8月24日

Very similar setup to the Nasdaq wedge that has already broken out and rallied. Price is near lower end of recent regression trend. Seasonally speaking, more upside is likely based on previous 2 years. With price from 50 bars back dropping quickly, the 50-day SMA will flatten out suddenly and has a lot roll up potential. P/E ratio of 13.34 is hilariously low. The main thing is the wedge. “In wedge we trust” if you’re buying a call or calls like I probably am.

Strike: $170
Exp: Sept 16, 2022

2022年8月24日

交易進行

Purchased two calls at $410 a piece at 10:28am EST.

2022年8月26日

交易進行

Zuckerberg was a guest on Rogan today. Nasdaq bounced off previous high and major trendline which it was retesting.
+3.38% day for Meta, so far so good
Here's NQ:

2022年8月26日

交易進行

Big selloff today
NQ down 4.54%
META down 4.15%
not looking like a promising trade right now

2022年9月10日

交易進行

Today was a +4.37% day which is hopeful. There are 5 trading days left until expiration and price is 2.86% below my breakeven level.

I'm not sure what the plan is at this point. I might close at breakeven, perhaps I'll close one off at breakeven and let the other ride. Need to analyze indexes further.

2022年9月13日

手動結束交易

Close at breakeven. The trade didn't go as planned and it was the right decision to get out without any losses with only 4 days left until expiration which falls on quad witching. Theta burn risk is too high.

2022年9月17日

註釋

I got out just in time.