Reasoning:
1) CMG has had strong fundamentals.
2) Stochastic is oversold. Stock is in a long term bullish trend.
3) Support seems to be at current level based on longer term trend line on the daily and a bounce at this level in Oct.
Expectation is a resumption of the trend.
Entry Point:
BTO Mar Long Call Strike 355
NET DEBIT of $10.3
Exit Points:
Primary Exit (PE): 100% gain. Will increase secondary exit to lock in profits or reduce risk for every 20% gain.
Secondary Exit (SE):
Bearish: Exit if stock trends to 290.
Trade filled on 11/22.
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12/5: Sold Dec 355 call for $1.35.
12/23: Call expired. Sold Jan 355 call for $1.75. Cost basis is now $7.20
1/3: Closed trade for a credit of $10.80