Price action/TA had guided me well on PINS; Never possible before! - Charted the price action for many months in a controlled buy channel - On 24 Apr, the earnings reaction caused the counter to gap down big! How price action analysis had guided me on the path! - On gap down, stayed calm and marked the gap and 50% gap fill level - Looked for yellow MA5 basing coinciding with the long drawn support range at 21 - When it based ==> Sold Puts - When MA5 crossed above MA20 ==> Sold more puts - Saw formation of cup at bottom of gap fill at 24.5 ==> Sold calls - In the handle pullback to 23 ==> Closed calls and sold more puts ==> Possible bull flag - Price action has been a higher high and low and now filled the gap fill 50% level of 25 ==> Sold puts maturing very well - Price a
How to pick strike prices for options?
Picking strike price that's aligned with your strategy is a critical component of one's options trading. When selecting a strike price, it is important to consider the current market conditions, the underlying asset's price movement, and your investment objectives. ---------------------- How do you pick strike prices? What tips or strategies do you use? Have you made any mistakes or learned any lessons from it? What were your most successful and unsuccessful experiences in picking strike prices?
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