From my analysis on 4/19 & 4/20:
“ET — Energy Transfer LP, which I’ve either gotten in before, or at least put an order out for in the past — looks like one of the best opportunities today. Price has been pushing up fairly consistently since the end of December, based for a bit a few weeks ago, pushed up pretty strong, had a pullback, and has pushed back up above to new recent highs. Over the last 3 or 4 days, this has been largely basing. If this can push back up through the day’s highs, it could really run. I’ll run the numbers here and see if I can find a place to get in
I’ve already entered ET. I looked at this yesterday, it had been pushing up for a while and based over the last 2 days. This morning, price opened above the base, so I got in as soon as I could — I still set a limit order, and it triggered at $0.64. I’ll keep an eye on that going forward.”
Underlying Price – $11.80
Underlying Target – $12.30
Strike Price – $11.50
Premium – $0.64
Entry – $0.64
Exit – 4/22 @ $0.46
Since entering the trade, price mostly pushed down. This morning, price made another move down, and it was approaching a support area that was also a solid resistance area in the past, around $11.50. I determined that if price broke that level, I’d cut my losses and get out of the trade — maybe look to get back in next week if it pushes back up. It happened, so I exited at $.46, for a small $35 loss. I don’t have much to say about this, it was trending up, clearly broke out of a range and the R:R was there, so I pulled the trigger. This one happened to not work out. I have no regrets.
