Tentative trade idea for the week
$INCY 110C 06/18 expiry
Price : 1.5 or less
Stoploss: -20%
Careful with Wide bid-ask spread.. Please don't buy at market price ..put a limit order.. if it doesn't execute no worries
Thesis :
Whale is currently sitting at loss on this in full position
Almost down 50%
Chart:
DAILY
2x inside compression on daily , wanting to go higher looks like ...
WEEKLY
$INCY weekly just did a breakout last Friday ...highest weekly closing ever..... 8 months base breakout here (NOV- JUNE) ... weekly closing was 108.53 just above recent high of 108.39 .... look at the margin ... lol 14 cents
Let me know your thoughts in comments section , Thank you ! Enjoy your weekend!