Sell AEM Calls
Preserve Capital
PLAY: Sell your AEM November 75 Calls (AEM KO) at market, good for the day.
Dear Bottarelli Research Member,
In the spirit of capital preservation, I think it’s smart to close out our AEM November 75 Calls (AEM KO). As you know, we’re holding these contracts for an average price of $2.40. For those who first entered this position yesterday for $1.85, you’re showing a nice two-day profit. But whatever the case, one look at AEM’s 60-minute chart shows two concerning trends.
First, the stock is hitting a resistance level at the 50-day moving average. And second, it’s been setting lower-highs since their October 13th peak. Therefore, from a trading perspective, the most prudent course of action is to sell at these high levels and buy it back at the support levels around $69.00. Since we’re basically at break-even right now, let’s close it out and look for better opportunities.
PLAY: Sell your AEM November 75 Calls (AEM KO) at market, good for the day.
And as always…
Lock and load!
Sincerely,
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