Prescriptions For Success

Hey Traders!

Did you see what happened today 11-14-2023 on the IWM? 

It's making a inverted Head and Shoulders pattern. This pattern is a bullish chart formation. This signals a potential reversal of a downtrend.

I bought 3 long calls at the 170x expiring December 15 2023, cost was 7.23 per contract. My profitable target is as follows: Close 1 contract at 185, and ride the other 2 contracts to 190. 

Unprofitable exit is <175, wait to get the best price as always. 

This is a higher probability trade due to the break out of resistance on high volume and the inverted head and shoulders pattern!

Let's Get Paid!!!

As always, never trade with money you cannot afford to lose. 

Get a second stream of income trading stock options, more specifically bull put spreads.

Increase the success of your Bullput Spreads - 3S

1. Place short strike under Support
2. Sell the 30 delta
3. Set limit order to exit at 80% gain

Sometimes learning how to trade stock options seems like a foreign language!

Utilize this Options Terminology worksheet to help you learn the terminology most important for you to make money!