New Position: $SPCX
After nailing the long breakout and shorting the top, $SPCX has now pulled back to the exact level of the breakout ~$160.
This is where I wanna be long again and the vols are all elevated.
I like the $175/$200 call spreads again but this time, expiring no 11/13. They are about $4.00 per combo, which makes this a 5:1 payout, real juice in the trade.
Now, if we pull back further, I will sell calls to finance this trade. Right now I'm just paying premium.
Recall the market is a little creaky after the new ATH with Nasdaq, but we are in a trader's market and $SPCX is a retail favorite.
I'd rather be long after this textbook pullback than flat.
After nailing the long breakout and shorting the top, $SPCX has now pulled back to the exact level of the breakout ~$160.
This is where I wanna be long again and the vols are all elevated.
I like the $175/$200 call spreads again but this time, expiring no 11/13. They are about $4.00 per combo, which makes this a 5:1 payout, real juice in the trade.
Now, if we pull back further, I will sell calls to finance this trade. Right now I'm just paying premium.
Recall the market is a little creaky after the new ATH with Nasdaq, but we are in a trader's market and $SPCX is a retail favorite.
I'd rather be long after this textbook pullback than flat.