Any constructive thoughts on this trade? Why did I wait and not exit? I am working on being patient AND quicker to react in just the right amounts/right time. I get confused with too may opinions....my quiet instincts serve well but that just went into the toilet with this trade.
IBB Bear Call
Entered Aug 9th @ $70.55
Currently $ 73.89
65 / 70 Sept calls
#8 contracts
cost basis: 7.40 & 3.10
current cost basis: 9.10 & 4.30
Techs topped, volume low, doji at 73 Resistance.
Stock made higher low and higher high by a margin.
Pullback to the moving average then a continued uptrend?
What should I be thinking now
1. Wait until pullback to the moving average to exit the trade at a better price
2. Roll 65 call to 75 turning play into a Bull Call Debit Spread.
3. Roll both out to October Bull Put (but this one I am really guessing about)
Credit Spread
70 BTO
75 STO
IBB Bear Call
Entered Aug 9th @ $70.55
Currently $ 73.89
65 / 70 Sept calls
#8 contracts
cost basis: 7.40 & 3.10
current cost basis: 9.10 & 4.30
Techs topped, volume low, doji at 73 Resistance.
Stock made higher low and higher high by a margin.
Pullback to the moving average then a continued uptrend?
What should I be thinking now
1. Wait until pullback to the moving average to exit the trade at a better price
2. Roll 65 call to 75 turning play into a Bull Call Debit Spread.
3. Roll both out to October Bull Put (but this one I am really guessing about)
Credit Spread
70 BTO
75 STO