Mar 2020: BKNG $1200 – $1210 Bull Call Spread
THIS IS A DELAYED TRADE FOR EDUCATIONAL PURPOSES ONLY.
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Trade Selection Criteria
Overall market movement
We have experience an unprecedented sell-off in the markets due to the ongoing Coronavirus scare
No Earnings or Significant News
We were forced to give this trade 57 days to work in our favor due to the market conditions. However, the next earnings are on 5/15 which means they coincide with our expiration cycle. I will be closing this trade at least 10 days before earnings.
Bollinger Bands outside Keltner Channels
This is a no-brainer! Bollinger Bands are way outside Keltner Channels.
RSI has been in oversold zone for some time. However, it is not showing any signs of a clear reversal yet
ADX is flattening out. This indicates that the sell-off is losing strength. Also, DI+ and DI- are finally reversing directions.
Beginning Account Balance
Ending Account Balance