- Been swinging Call Options on AKS since week end 11616; Purchased 4 Calls (Strike Price 10.50) on the Market Open Monday AM w/ a Limit Order price of .29.
- Averaged down w/ purchase of 6 more Contracts the following day w/ Lower Low (Consolidation) being set in @ limit price of .15. Held position - FED Hike in hopes of a Market/Metals Rally to no avail.
- Holding 10 Call Contracts Avg. Price of .22 per and looking to match the gains failed to realize pre-hike at the least.
- Looking to sell to Close the contracts on or near loss of 10, 20, 100 period MA w/ the 30 minute Chart Setup.
- Do Believe After Hours activity will have all 3; including the EMA 4 & 8 period Moving Averages as support on the open.
- If the 4period EMA has not crossed the 8 period EMA to the Upside; I will look to hold position until it does.
- Slight chance on the 30 Minute Chart of a 50 period and 200 period Golden Cross(I believe so anyways); but WILL not Hold thru Friday 12/16/16 in hopes of seeing additional gains should it not occur Thursday 12/15/16.
- Trade setup for following week or upon Total Gains >= 400% put in place w/ weakness following FED Hike and possible profit taking from medium/long term traders:
- In lieu of adding more contracts to this weeks position, purchased a total of 10 Call Contracts w/ - AKS w/ a $12 Strike Price expiring 122316 for a .08 per. If further weakness occurs - End of Week, willing to add but ONLY if it AVG. Down my Call Contract prices (.09 after commission). As stated previously have been swinging, successfully mostly, this Ticker since one week following the election, along w/ AMD, CLF, VALE, RYI, FCX.