Carvana Co.
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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.


Nota
Max loss is $900 but my actual max loss if it makes new highs. I will take a max loss of $300
Nota
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.
Nota
Breakeven is $60.7 at expiry
Ordem cancelada
Never put on this trade

Aviso legal

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