VALE Call Entry
With the UUP sitting on a major resistance level and the material stocks overselling, I am adding VALE calls as a bottom picker play. This is not a play I would make if I were not playing with profits but it is a play that has the potential to pay off very nicely.
70 Apr 18 calls for 1.00 for a $7000 trade. Going to April to minimize volatility effects and I am looking for VALE to gap above the 200 day moving average tomorrow. If it does not move higher quickly, I will likely move out of the trade and wait for less risky setups.