ITCI Swing

 

Very tight coils here, not a name unknown to big pops and drops. Though after this last one we are above mid 2018 his and holding above. Big VA we are about to break higher from, super tight MA coil, Anch VWAP from past dates just under price as it held. We have
a TL break and a significant D vol candle yesterday. Short float 9% Looking for a big pop here as some healthcare names are seeing a good move higher and biotech at ATHs. 

Very clear point of entry, still just broke that TL and we have bo pivot just under us. Looking for quick move at open to get in if we stay here by the bell

Entry
will look for prev hi/bo hold or aggro move through to get in

Stop

Hold below 26

PT

There are no major MAs in the way. Everything is underneath. Only point of concern is Anch vwap from most recent big pop. And just before that is the 50% retrace which may come into play. 

Got in kinda with my pants down. Left order in to see if id get filled as it was looking ready to move. Got filled as the stock was dropping lower. Will have to wait and see if we can recover. 

Dropped to new LOD, but recovering very well, made its way back up to breakout point, prev hi and HOD just above us now. Big vol increase. Looks good. 

Ended up closing very strong above bo level. Debated adding, but these options are really not impressive. A point and a half move would only get me maybe a $50 dollar trade given spread and lack of vol. No reason to add to something unimpressive as this, but will hold. 

In jan 15 at .98 PT $3

2nd day

Very strong open. Straight up a point and a half right to big bo at 28. Will hold for bigger move. Still want to see 34 break before taking. Options still low vol, spready. Would be lucky to get 3$

Closed super strong, next big bo at 38.80 just above along with anch vwap from prev big spike high.

If goes parabolic, I will exit. If not I want to hold this til 34. Only have 1 contract so cant scale. And options still not doing much so should be grateful to take a win from this overall.

3rd day

Closed above anchvwap, v good. Breakout and saw biggest vol increase. Looks to continue. Will hold. 

4th day

held better than i expected with big close above anch vwap from gap hi. Not great vol, looks like it might have more to go.

Normal pullback held strong, good recovery. Might be chance to add if its really good, more than likely wont be, but add chance is here tomorrow maybe wednesday. 

5th day

Strong move through anch vwap and TL, good vol still. This is getting a bit over ext, but holding for 34. Option not seeing any vol come in. Definitely shouldve bought closer otm. Might only turn to a $100 trade once PT hit. 

6th day

very strong. Closed near high. Breaking out from big triangle. Up 4 and a half points on the name. My calls? Breakeven still. No reason to exit. 

7th

Another close higher. Looks great still holding. Vol is slowing, but was xmas eve so not surprised.

8th

Strong open, hit over ext on TL + bo of 32 and starting to see some weakness today. Making a big doji, will exit this trade on any prev lo break. 

9th

All out today on big market sell. Ill never make the mistake of buying way too far OTM calls on any trade again. Made 30+% on underlying. Only a 5$ win. Option never increased in value.