Don’t Miss This Perfect Setup Day Trading $AMD Options

 

Trade Recap

 

On Friday, October 21st 2022, I focused on finding the perfect trade for the day. I was looking at charts for AMD, the S&P 500 (SPY), and Tesla. I noticed that there was a bit of choppiness in the market in the morning, but no real direction. Despite this, I decided to take a single trade on AMD.

 

When looking at the chart for AMD, I noticed the formation of a reverse Head and Shoulders pattern. I decided to enter the trade by purchasing call options on AMD.

 

As the trade progressed, I saw that AMD was struggling to break through a resistance level marked by the purple line, which represented the pre-market low. Despite this, I decided to hold onto my position and let the trade play out.

 

Eventually, AMD was able to push through the resistance and I sold all of my contracts for a profit of 61 cents per contract. In total, the trade resulted in a profit of $96.77.

Overall, it was a successful and quick trade, but there were other potential setups that could have been taken advantage of for a potentially larger profit. In the end, I opted for a one and done approach, as I didn’t want to risk ruining a good morning with a bad trade.

Check out other trade recaps here.

Here are the trades from the previous day of trading.

 

Thank you for joining me and watching my video. If you enjoyed it, be sure to give it a like and consider subscribing to my channel and turning on notifications so you don’t miss my future videos. Have a great day!