If JPM retests the 100 SMA before May 17th and confirms bullish after 2 days I will enter with a trigger at 61.00 and a stop at 59.22. I will buy 57.50 June calls with a 2R target. If the order doesn't fill in 3 days or shows a bearish confirmation past the 100 I will cancel the order. Once triggered I will let this trade go for 5 days before deciding to move stop or exit the trade.
If JPM retests the 100 SMA and confirms bearish to sideways I will consider if there are any credit spread options at that time or I will wait until a new gap and trend becomes more clear.
If JPM retests the 100 SMA and confirms bearish to sideways I will consider if there are any credit spread options at that time or I will wait until a new gap and trend becomes more clear.