Winner: 37.14% Gain On JNJ Calls
Summary
- Bought the JNJ 21MAY21 155 calls on Mar 9 at $8.75.
- Sold the calls on Mar 29 at $12.00 for a gain of 37.14% on the trade.
- 5% portfolio allocation.
I bought the JNJ calls on Mar 9 after the shares held above the $156.00 support level for two days - the shares then churned sideways up to Mar 25, stuck below the 50MA - on Mar 26 the shares finally burst above the 50MA.
On Mar 29 I decided to lock in the gains on the trade as the shares hit the $166.00 level, which is strong resistance level for the stock.
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