Square generated a Buy Signal back on May 28th @ $81 resulting in purchase of the July $82.50C @ $5.30. Price touched $100 today with the call trading at $18.30. The chart below suggests SQ may find some headwinds at round number resistance ($100) that is also coming in at the top of the trend channel. Trade management alternatives include taking profits now, to taking partial profits and rolling into a new strike and or expiration (the July 17th $100C is trading around $5.50). Any price reaction off resistance down to the lower channel line could set-up a repeat buy signal in a few days. The other alternative is to do nothing, just hold the call, which has served this trade well through a lot of market volatility since May 28th.
