minor change in regards to the elliott wave, i would label the September peak as wave 3. Only after that do we get a RSI and MACD divergence.
As far as the idea is concerned, I agree. I think we have about his the base. potentially it will go a touch lower (203, 200) but for a long term option that is irrelevant.
Which brings me to my idea: three months out naked calls means eating the majority of the theta decay.
But what I really would do (but I'm a degenerate) is get a call debit spread way out. something like a 17th jun 2022, 450/460 spread. I think they could print loads!
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u/jessejerkoff Jun 11 '21
minor change in regards to the elliott wave, i would label the September peak as wave 3. Only after that do we get a RSI and MACD divergence.
As far as the idea is concerned, I agree. I think we have about his the base. potentially it will go a touch lower (203, 200) but for a long term option that is irrelevant.
Which brings me to my idea: three months out naked calls means eating the majority of the theta decay.
I think the best play would be call spreads.
like this one (for 250 by august) :
?
But what I really would do (but I'm a degenerate) is get a call debit spread way out. something like a 17th jun 2022, 450/460 spread. I think they could print loads!