Trade Ideas
UOA PRO New Trade Idea IBIT 7-20
11,700 31July 40.50 calls bought in mostly one order for 0.06 to 0.08 above open interest of 93 contracts. Stock 36.49-36.82.
New Trade Idea
Ticker: IBIT
Stock: 36.82
Trigger: 37.19
Expiration Date: 31JUL
UOA: 11,700 31July 40.50 calls bought in mostly one order for 0.06 to 0.08 above open interest of 93 contracts. Stock 36.49-36.82.
IBIT $37.04 Last.
Large 2 week out OTM call buy. Space keeps threatening to lift but so far only smoke. Nascent signs of technicals on cusp to change for the better. Another that has a better chance IF the market can slide more towards “Risk On/Buy the Dip”. Has something akin to a mini inverted H&S pattern it is tracing out now and is > the 20 SMA for starter.
Trigger: $37.19, today’s current high.
Strategy 1: Consider the IBIT 24July 36.50 calls for $1.05 projected at trigger level today.
Strategy 2: Consider the IBIT 31July 37.00 calls for $1.05 projected at trigger level today.
Targets: 37.92, 38.48 (50 SMA currently), 39.77 (100 SMA currently), 40.35, 41.75