JUL 2021: WDAY $225- $230 Bull Call Spread



Trade Structure

$225- $230 Call Spread

Trade Date


Price Paid


Expiration Days



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Trade Rationale

A picture-perfect mean reversion trade! You will find these trades documented in my book too. All our mean reversion indicators are in place with this trade. DI- turning down, DI+ turning up, RSI turning up, plus the stock bouncing at support. A green candle after a DOJI. Literally every single box can be checked on this trade. These picture perfect trades don’t show up often, but they do come around every now and then.

Trade Selection Criteria

Overall market movement

There was a brief pullback in Nasdaq which generated several trading opportunities

No Earnings or Significant News

Earnings are behind us and were announced on 5/26

Bollinger Bands outside Keltner Channels

Bollinger bands are clearly outside Keltner Channels.

RSI Analysis

RSI sharply turning up.

ADX Analysis

DI+ is sharply turning up and DI- is turning down

Trade Analysis

At the time of opening the trade, this looked like a great trade. However, WDAY got stuck in a sideways consolidation phase and chopped around in a tight trading zone throughout the trading window. This accompanied with the pullback in the market last week, forced me to get out of this trade at 53% ROI instead of the usual 94% which I shoot for.

Trade Outcome




Beginning Account Balance


Ending Account Balance


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