Agree with your analysis. I opened a ALB option trade last Friday for in the money Sept calls.
My price target is $195 before summer, and believe we could see it quicker with a move similar to what happened first 4 days of January. I see downside risk to $150. Risk reward relation looks better than most.
Additionally, I'm ready to add to my recent position, and will likely roll the strike down on any pull back.
I bought ALB as indirect play on EVs (electric vehicles). Price of Lithium should rise as more EVs are sold.
@goledger, smart play! Yeah that's my angle on it too (Lithium). Agreed, it can make a $30-40 move very quickly when it gets rolling. I want this ER out of the way before pulling the trigger. How deep iTM did you go?
goledger
⋅
@Mullamaker, $160 ( i said in the money, not DITM). But I'll build on this position. I think it moves quicker as well.
goledger
⋅
@goledger, DITM would have been $145 or $150 to me, which I would have done if earnings release wasn't on immediate horizon.
My price target is $195 before summer, and believe we could see it quicker with a move similar to what happened first 4 days of January. I see downside risk to $150. Risk reward relation looks better than most.
Additionally, I'm ready to add to my recent position, and will likely roll the strike down on any pull back.
I bought ALB as indirect play on EVs (electric vehicles). Price of Lithium should rise as more EVs are sold.