TopOptionAlert
Oct 26, 10:48 PM
$CVX NOV20 240C · still actionable
Zone:
$230.39 to
$233.63
Invalidation: close under
$228.03
Objectives:
$240, then
$255
The math: up 3.4% to the first objective and 9.9% to the second, against 1.7% risk on the invalidation, about 5.8 to 1 to the second.
Dear friend, picture a big ship that has already crossed most of the harbor and is now easing toward the dock with the wind at its back. Chevron touched 234 dollars and 8 cents today and closed at 232 dollars and 1 cent, which in plain words means a small pullback after a strong run, not a turn in the story. This is a swing into the Friday report before the open, with room back toward 240 dollars first and then toward 255 dollars, while a close under 228 dollars and 3 cents says the Friday low gave way and you step aside.
P.S. Watch 233 dollars and 21 cents, Friday close, because holding over it keeps the breakout intact.
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