A one day trade. I knew this would be a quick trade, I didn't get a snapshot of the chart when I got out, this snapshot was a couple of hours later as the stock traded lower.
I got out when the price was closer to the resistance line. I think the stock could actually go up and touch the line, but at the same time, since it already came quite close to touching the line it could just go sides (or even down) for an extended period of time. Before continuing upward.
So, instead of guessing where it's going to go next, I just took profit ("...a bird in the hand...").
I sold this option for $2.00. Originally bought it for $1.81, so I made $0.19 or $19.
So, I'm not ready to retire just yet, but this will buy a pizza. The ROI was just over 10%, actually not bad for a 1 day move. Do, that 20x over in a month and you've got some major numbers.
This is one of the permanent stocks in my watchlist, so I'll wait until we get 2 days close above this resistance line before getting back in for more profit.
I'm still in FWLT and will be keeping an eye out for the next trade.
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