Stock, Option and Futures Trading
SLV OCT 32 Calls
SLV looks good here for a move up to the $34 level. We are playing this with the OCT 32 calls for $1.30 or better. The calls closed at $1.23. SLV is known to gap up and down at the open so if it opens above $1.30 we will place a limit to get in at that price.
SLV has blue bars at the low on the 60 min chart so that low should be put in place to get us back to the $34 level.
Target2: $34 on the stock
If SLV gaps down below $28.70 in the morning I will cancel this trade.
FAZ was a intraday winner of over 100% today. FAZ could not make it through the $65 target. We will be watching this one again for next week. NFLX could not find support and that stock is most likely going to be $40 sooner than later.