Berkshire Hathaway's "Big" Correction | Today's Option Play
Attention has been on 
BRKB after they gapped down 1.5% and continued to a low of -4.5%. After finding support on a monthly level @ $209, we decided to grab a small yet powerful position in weekly calls...
~
The stock currently sitsat $213 which almost looks like a 50% retracement from todays move.
Heavy weekly support @ $208-$209.
Watching the orange trend line as support as well, it holds strong on the weekly timeframe.
Possible long on a break & close above $215.6
Upside targets: $222
Possible Short Entry: $208
Caution needed moving forward.
Options Play Signaled:
BRKB $217.5 9/25 Call @ $24 (up 120%) (these closed @ $215 yesterday)
We grabbed these right before the bounce @ 70% off from yesterday's prices. This shows how powerful buying against implied volatility can be while trading options.
DotcomJack | Picasso of Stonks
BRKB after they gapped down 1.5% and continued to a low of -4.5%. After finding support on a monthly level @ $209, we decided to grab a small yet powerful position in weekly calls...~
The stock currently sitsat $213 which almost looks like a 50% retracement from todays move.
Heavy weekly support @ $208-$209.
Watching the orange trend line as support as well, it holds strong on the weekly timeframe.
Possible long on a break & close above $215.6
Upside targets: $222
Possible Short Entry: $208
Caution needed moving forward.
Options Play Signaled:
BRKB $217.5 9/25 Call @ $24 (up 120%) (these closed @ $215 yesterday)
We grabbed these right before the bounce @ 70% off from yesterday's prices. This shows how powerful buying against implied volatility can be while trading options.
DotcomJack | Picasso of Stonks
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