RBLX 6/7 LeaderLately it seems that the rotations into small/mid cap stocks are underway, what gave this information away was when
IWM (holds small/mid-caps) started to outperform the rest of the market. This means that if money is picking up small/mid-caps then we want to position into the tickers that from a structure point of view are leaders, so we can catch a longer bounce when they start to outperform. RBLX meets this criteria, not only is it outperforming some other arkk names but from a momentum point of view there is more room to the upside. Some cons of this trade are the ITM strikes are call heavy, and there is a call wall at the $34 strike. So, any further continuation may be short lived.
The plan is to buy ITM $33 calls expiring 6/7. Entry is market open (wait to see if we set a new low within 15-45 mins) if a new low is created don't buy and wait to see if we eat up the sellers. If we have good strength when we open, then we can take the trade. Add another contract at market close, 1st TP is when your original contract is up 50-70%.
註釋
entry was when RBLX gapped up with the market but stayed resilient to the slight drop
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