Carvana Co.
Short
Aktualisiert

CVNA Parabolic Arc Retracement Pattern

132
CVNA is slowly losing momentum. Recently released a debt issuance and it dropped its after hours trading lower to around $64.

CVNA could lose steam and change direction like it has in the past. I write a call at $45 and buy a call at $70 expiry is August 16th.



45/70 Credit Spread EXP AUG 16. $1570/930 Risk (May change after I put on trade)

Target exit is July at around $800-900 profit.


Anmerkung
Max loss is $900 but my actual max loss if it makes new highs. I will take a max loss of $300
Anmerkung
My Target will be assessed in July first week to determine if I should end the trade or if my targets are hit either loss target or profit target. A Lower profit may be taken if the movement to the downside is weak.
Anmerkung
Breakeven is $60.7 at expiry
Order storniert
Never put on this trade

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