I observed a double bottom forming with AAPL Tuesday morning. Since patterns formed really clean, I thought I share a review of the trade. I had been watching AAPL for a reversal at support level 180.63. There was strong support Tuesday morning, my RSI indicator was also very low on small and major timeframes.
Entered swings for AAPL182.5 1/19 calls @ 1.11 @ 6:50 AM (pacific time), by 8:00AM they were over 100% ROI, liquidated half to cover initial investment.
Wednesday morning AAPL 180.63 support level was tested once again. Bought some 187.5 calls with 0 return expectation. Calls were priced between .08 - .11 ALL day lol
Thursday morning AAPL fills gap from Tuesday climbing over 187
187.5 calls hit 1.80+ (1000% ROI)
182.5 calls hit 6.20+ (500% ROI)
Very clean Textbook double bottom play
Comment any ideas, suggestions, thoughts!
Entered swings for AAPL182.5 1/19 calls @ 1.11 @ 6:50 AM (pacific time), by 8:00AM they were over 100% ROI, liquidated half to cover initial investment.
Wednesday morning AAPL 180.63 support level was tested once again. Bought some 187.5 calls with 0 return expectation. Calls were priced between .08 - .11 ALL day lol
Thursday morning AAPL fills gap from Tuesday climbing over 187
187.5 calls hit 1.80+ (1000% ROI)
182.5 calls hit 6.20+ (500% ROI)
Very clean Textbook double bottom play
Comment any ideas, suggestions, thoughts!