The author successfully bought CVX $210 calls based on a breakout pattern with strong momentum and volume. Timing and volatility aligned, creating an opportunity for a quick, outsized return on a small, speculative position. A momentum-based, short-dated options play on CVX continuing its uptrend. Price is near historical highs, risking consolidation or pullback. Broader market uncertainty from inflation and interest rates could impact the energy sector.
The author successfully bought CVX $210 calls based on a breakout pattern with strong momentum and volume. Timing and volatility aligned, creating an opportunity for a quick, outsized return on a small, speculative position. A momentum-based, short-dated options play on CVX continuing its uptrend. Price is near historical highs, risking consolidation or pullback. Broader market uncertainty from inflation and interest rates could impact the energy sector.