Quick trade on FFIV

So, I’ve been keeping an eye FFIV for a bit. Keep in mind I’m using TOS, so I can’t say if it will look the same on Qcharts. I can’t afford Qcharts anymore. Also I’m having issues getting the 233 minutes charts displaying correctly on TOS, so I used the 4 hour setting instead. It’s only a difference of 7 minutes so it shouldn’t matter too much.
Yesterday on the 233 (4 hour) chart I saw crossing up, up, up, up, and found support on the daily/weekly. The 233 was coming off the BBB, and the daily was coming up off the 200ma. Also the Histo was improving. The weekly seemed to find support on the 50ma. RSI on the daily was also crossing.

At the time the daily B-bands were not expanding at all. But today they look as if they are opening a bit, so it could continue higher. It doesn’t matter to me, because I’m out already with my expected profit.

Here is my thought process, and why I’m out already. Considering I’ve been getting whipsawed lately I was attempting to guesstimate the movement in case it decides to reverse suddenly. AND knowing that earnings will post Wed after close, I didn’t want to ride through earnings.

I could see the TBB was only about $3.00 or so above the current price at the time. The bands weren’t expanding at the time so I guesstimated that I could possibly get about $1.60 from the option before it backed up on me. I was confident that it was going to keep going my way so I jumped in a bit early before the morning candle closed. I popped a few Jan 14 contracts @ $8.85. They were also 2 strikes ITM. I then placed a GTC sell for $1.60 higher hoping I could capture roughly half of the remaining stock movement on my option when it hit the TBB. My sell order filled at 9:40 this morning.

Going back to check the option price, it peaked this morning @ $10.60. I’d say I called that one pretty close on my option price:-) Even though it gapped higher on the open the stock is trading under the open price. You got it; a big red candle so far :-) Also the highs for the stock reached the TBB on the daily, and beyond it on the 233.

I know it seems like a really fast in and out trade especially considering I used the 233 chart, but I’ve been getting whipsawed so much lately I’m fine with it. Once I get beyond this whipsaw conundrum I seem to be stuck in, I’ll let them run further. Also I wasn’t riding though earning with a small gain. Basically I hopped in 3 days before earnings, so I knew wasn’t staying long.

Taking a glimpe at the current price right now makes me go WOW!!! If I hadn't setup the GTC sell order for my expected profit, I'd be dealing with a major loss of funds right about now.

Boy GW sure is smart, but he got that way by being dumb sometimes. You really can learn alot from a dummy:-) Just kidding. No disrespect intended, as I owe GW many thanks:-)

It appears the est is for .97 cents, if they report better I may hop on again:-) I'll wait a bit, as A.H. is beginning to wind down. I'm not recommending this for anyone, I'm just thinking out loud.

I always wear the same T-shirt. It reads, "Don't follow me, I'm lost".

Good trade for a brick, GTC are good as you can see how quickly a stock can turn.

I'm following FFIV now for a bounce (just for a brick).