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Thursday, April 18, 2024

Top Trades for Wed, 07 Nov 2018 11:41 – UGA

phil
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Top Trades for Wed, 07 Nov 2018 11:41 – UGA
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Recount in Florida!

Well, $1.65 on /RB is a little crazy.  In the STP, let's add:

  • Buy 30 UGA Jan $28 calls for $2.00 ($6,000) 
  • Sell 30 UGA Jan $31 calls for 0.80 ($2,400)

That's net $3,600 on the $9,000 spread and figure we'll cut and run at $1,800 so risking that to make up to $5,400 if all goes well.

Big picture the move was $25 to $37.50 so 50% move up and that means, unless we're making new lows, that $27.50 should be good support (weak bounce of a full retrace) and $30 really should be bouncy (strong bounce) so this is a good spot to give the longs a shot. 

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