OTRK Swing



 Good looking setup here. Trendline break into BO pattern. Sorta cup and handle. All MAs coiled under. Short float an astonishing 45%.

There are a few problems here though. 1 is volume. Not a lot on this pop higher. 2 is the Bollinger band is not expanding but going sideways still. 3 is anch vwap may just be another place to sell again. 4 is headed into POC this year.

Not an impossible trade it is there and ill take it. 

Entry will be on aggressive move through prev hi or BO level

Stop is if we get stuffed, engulf lower, stick under that anchvwap.

Expectations. If this goes it should go, should be no doubt were squeezing

Options are terrible. Will have to judge real time what to get. 


Got in jan15 75 calls. Not cheap, still spready but its there. 

Very strong open so far for it. Straight to bo and held while market dropped. 

Held well and grinded higher while market was dumping/sideways. Looks like a hold. 

in 2.70 pt 7 

3hrs in, straight move up. 6pts from open. 5 pts from entry. Looking good, seeing call vol come in. Unfortunately I chose the one seeing the least vol increase, but who knew at the time. Either way up money. 

pulled in towards the close, just shy of another breakout.

Options saw a big increase in vol. I will add to this if it is there. Plan is to hold, no reason to get out yet. 

2nd day

Held strong all day, coiled super tight under bo, trying to add again.

And got filled, kinda messed up with order, moved limit up too high too fast. Is seeing good call vol though and clear strength. Either way I want the add, super clear strength.

And breaking out well going into last hour and half. 



Held well, still above avg vol. Close JUST under the bo level. Looks like more to go still, overall good day. Would not be surprised to see this thing blast through 75 monday. Will take add off if profitable by then. 

3rd day

very strong day on such a weak overall market. Lower volume. Looking like it wants to go parabolic. 

Holding on, will see one more bo before looking to take 1 off

4th day

super strong open, right to next big bo level and sold off hard from it. Sucks, but stuck holding. Will take off if it breaks today. 

Did make its way up for the break, will judge when to take it off. 

Bids starting to chase up, still wide  and spready, would be lucky to get a good fill here but its sitting there for a good win. 

Got the good fill, someone bought it from me as we made new HOD. Holding 75 call for ATH..

Strong all day again, closed near highs. Looks like its going parabolic to new ATH. 

5th day

bailed all, have to leave desk, market is a bit deceptive today. OTRK v weak and built above bo all day, just now losing it though with volume, seems more than likely it will get worse and have a big reset lower. Will re enter this someday. For now, taking profits when it looks like I should be. 


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