New Energy Trade

Update: That was fast– I’m exiting for a loss (150-ish) if it breaks 2293

chk 10day 524x420 New Energy Trade

chk daily1 524x420 New Energy Trade

Falling wedge pattern, has regained the 5 day moving average, and is at a longer term support level (near) 21.

On the shorter term, it looks to be breaking out of its range.

1. Get long at these prices

2. Set a stop for 22.92 (yesterday’s afternoon pivot low)

3. Reduce position at 24.50, move stop to break even.

chk vol 300x122 New Energy Trade

I feel that this would be a reasonable time to buy some calls– I am willing to accept time decay for the possibility of a larger move.

For this trade, I’m looking at +8 CHK Jan 10 Calls at 1.59

chk order New Energy TradeWith a stop loss of 22.92, that puts us at a total delta risk of 150.


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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