Back in the trading business after a long absence. Currently working on Options Trading. Saw a nice entry setup(method B) on BA stock and took the May 70Call premium@$4.85 with SL@$3.80 roughly 20% risk.
Since this method does not apply any target value, but the system wont allow blank limit value so punched in $10 as my limit and let this one run 3-4 days and exit if it goes sideways.
Position Update: Stock went down tested the 22MA line then went past it on 2nd day of trading. Hit SL and position was closed, new to this program well now i know SL is working. Hey, thats what a stop loss is good for =)
Wanted to experience another Strategy(method A), since i could not find any better setups. Took the EIX Jul11 35Call@$2.75, Target $6.04 and SL of $1.98 which is off the recommended risk % value. Done for today.
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