PTR Recap | More Turns

April 8, 2020 in Trade Recap, Trading Strategies

It was a late turn around Tuesday as the bulls dropped the ball later in the session, losing a 3%+ gap higher which built on the prior sessions move into clear higher time frame (HTF) resistance.

The recap covers current positions (CurPos) expressed following Extreme Turn signals.


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Extreme Turn Signal

March 9, 2019 in Trade Recap, Trading Strategies

Crude oil has pulled back recently from the high $50s and many energy ETFs have followed lower. The move created an extreme-turn (ET) signal today in the SPDR S&P Oil & Gas Explore & Prod ETF (Symbol $XOP). Visually the signal occurred at a symmetrical double bottom adding strength to the signal.

The Trade

Since we had stacked signals, we chose to also express the trade in two parts using the April $28 and $30 Calls. This is “called” a Call Stupid.

Result

$XOP has rallied 8% since entry resulting in a 100% return in the April $28 Call and a 50% return in the $30 Calls. We updated our position here