I like big BARS and I cannot lie.
See Dicks. See Dicks grow (in value). See Dicks grow really quickly (in value). Grow Dicks Grow.
DKS has made a massive outside day up bar. I don't normally swing on trades, and I don't really like to go long, but I am going to on this one. Some things I like about this chart is that DKS has trend. My methodology relies on trend, price tone, and a lock to the high side. I don't see tone or lock here, but what I do see is DKS starting to pull back. It has trend, so even though it may be pulling back for a new move lower, it is pulling back with the trend. I think it will be profitable, and I am willing to take the risk.
To help offset that risk, I am going to option it for a short term time frame (see the max risk below in the order dialog--I like knowing what my max loss will be in a worst case scenario). I am going to buy the 10 of the June 9 contracts at the $330 strike. If price moves away from my position, I can give it back within the next day or two or three and recover some of my money. Also, payment for order flow is different in options than stocks.
If you are looking for similar setups, I also like
PH, 
CBOE, 
GEHC, and NYSE:SJM. All of which I will be positioning into in the AM.
Here is the order dialog. Maybe slightly different in the AM when new quotes roll out.
Order Confirmation for xxxxxxxxxxx (warhorsealpha)
Order Description BUY +10 DKS 100 (Weeklys) 9 JUN 23 134 CALL @1.95 LMT [TO OPEN] 135.95 Break Even Stock Prices
Max Profit Infinite
Max Loss $1,950.00 (not including possible dividend risk)
Cost of Trade including commissions $1,950.00 + $6.50 = $1,956.50
Buying Power Effect ($1,956.50)
Resulting Buying Power for Stock $2,094.60
Resulting Buying Power for Options $2,094.60
Happy Hunting.
DKS has made a massive outside day up bar. I don't normally swing on trades, and I don't really like to go long, but I am going to on this one. Some things I like about this chart is that DKS has trend. My methodology relies on trend, price tone, and a lock to the high side. I don't see tone or lock here, but what I do see is DKS starting to pull back. It has trend, so even though it may be pulling back for a new move lower, it is pulling back with the trend. I think it will be profitable, and I am willing to take the risk. To help offset that risk, I am going to option it for a short term time frame (see the max risk below in the order dialog--I like knowing what my max loss will be in a worst case scenario). I am going to buy the 10 of the June 9 contracts at the $330 strike. If price moves away from my position, I can give it back within the next day or two or three and recover some of my money. Also, payment for order flow is different in options than stocks.
If you are looking for similar setups, I also like
PH, CBOE, GEHC, and NYSE:SJM. All of which I will be positioning into in the AM. Here is the order dialog. Maybe slightly different in the AM when new quotes roll out.
Order Confirmation for xxxxxxxxxxx (warhorsealpha)
Order Description BUY +10 DKS 100 (Weeklys) 9 JUN 23 134 CALL @1.95 LMT [TO OPEN] 135.95 Break Even Stock Prices
Max Profit Infinite
Max Loss $1,950.00 (not including possible dividend risk)
Cost of Trade including commissions $1,950.00 + $6.50 = $1,956.50
Buying Power Effect ($1,956.50)
Resulting Buying Power for Stock $2,094.60
Resulting Buying Power for Options $2,094.60
Happy Hunting.
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