GSK is one of the biggest names in its sector. Coming off an earnings drop I'm looking for this to bounce back off support back to its previous levels.
Pink line support at 34.75 will cut my position under 34.55 small losses with large upside potential.
Entered 5/21 $39 Calls @.40 will look to average down if needed but they have 100+ days in time. Feel free to go closer to the money if you are playing options for more safety but I took more time and a little bit OTM.
Not financial advice just sharing my thoughts and a simple support bounce play to go long off of.
Pink line support at 34.75 will cut my position under 34.55 small losses with large upside potential.
Entered 5/21 $39 Calls @.40 will look to average down if needed but they have 100+ days in time. Feel free to go closer to the money if you are playing options for more safety but I took more time and a little bit OTM.
Not financial advice just sharing my thoughts and a simple support bounce play to go long off of.