On July 17th we bought ETHA via the Sep 19th $30C @ 1.64. The call reached a top tick on July 21st @ 3.25 and since has given back more than half of that gain. Today, Ethereum and ETHA are back in the bullish camp and the calls are recovering, back up close to 50%: What to do now? If going by strict trailing stop strategy, these calls have long since been exited for about a 50% gain. If out, the chart below suggests getting back in on a breakout Wave 5 Buy above $30 and with over a month to go until Sep 19th expiration, going back into that same Sep $30C is as good a bet as any. ETHA If still holding any or all of the Sep 19th $30C, continue to do so, using a "break-even" stop for an exit. Once call is up 100%, move to a 50% trailing stop. Note: Reward side of the risk:reward equation is ETHA between $45 and $60 and we may need to roll into Oct-Nov-Dec calls in a month to realize maximum potential. Ethereum An Ethereum breakout above $4,000 will target a run to $6,000...for starters.
