 Welcome back with us folks tonight. We are reviewing the spot play spotify reported this morning great earnings More so was the guidance. That was excellent. They said they were Ahead of Apple concerning all the podcasts that they're hosting so to me. This was a very good idea to get in on a dip it had this Amazing spike at the open see how this would trigger something that is crazy because you're opening higher than the Than the pre-market high and then it started spiking like this Everyone wants to get in and you see it was opening at you know around 270 and it jumped eight dollars so whoever was in that spike was a crazy play Saying that you know you buy let's say an option here to 70 you get super green here You need to be extremely quick to sell at the top because then it turned down on you But that's not the purpose of the The video what I want to show you is where I started to see that we were About to probably pop a little higher now I'll show you with the the option itself, but I was looking at the option prices when It was down here. It reached the top went down there reached the top again, and then it went down there I was like, okay. It's going to probably do that a Little bit at least we're going to catch some of it. Let me show you what it did and you understand what I mean Okay, now I was switched to the 270 calls for spot To show you exactly what I meant with the price action on the calls This is the one-minute chart on these calls You know just side note is Whoever got in here at four This went to 11 11 11 10 at the top during a one-minute candle So you have to be pretty quick to grab all this I'm gonna get in there and to get out at that point, but like I said, that's not the point of the Video what I want to show you is this here people that got in at in low four even not sorry a little under four and this is high six even seven and then same thing again and it goes up again So there's a very good potential. I know it's a little expensive to be at the bottom there but the price action was really really rewarding so This is the reason why I decided to go for seven. First of all for 70 was the upper limit there Making it in the money and then some would have been very lucrative would have paid would have paid well and The idea it was to buy from from the bottom. So we were looking for double bottom triple bottoms We're back on the actual chart here, and this is what I was saying we're looking at double triple bottoms and This is pretty much what I saw. This was the bottom of that wick another bottom there a little higher and When we dipped here to me this was the bullish sign it hit the 50 EMA and This is where we alerted on the 270 calls making Ways to move back to the 270 zone the idea was For us to take the bottom and move up Fortunately, that's not quite what happened and look at what happened. This is the top of the previous day and We did just a hair under now we had this Price activity that was very close by Sometimes what I really like to look what I really like to look for is not this price activity, but pre-market activity pre-market activity sometimes is the only thing available because let's say we are on a gap up or Something that is You know, we're higher than the three previous days. We have very little View of what happened the previous day. So sometimes when you look at Price activity from the the pre-market. Well, you see that this is exactly where we were so basically we were support from pre-market we bounce right on it and We took our first Exit on to 70 right there. I believe we were at 80% when we made it to this, you know, here's a top another top When you look at all this here, right? You see that this is pretty much it's reaching Where we stopped going up. So the idea is to grab some profits I took half out there and he percent and then We posed a few information and eventually I decided to move out when we reached the 275 this was my Total exit which was which was good for I believe 200 and something 232 percent at the top And it kept on going kept a freebie for As a runner, but the idea was to conclude the trade at 275 In 275 was struggling was really trying hard and I thought, you know, this is good enough And always remember look at the price that you pay or you paid for for your play. We paid a Price for the 270 right so you have to add 270 plus your premium this Will set your break-even point and This means that this was a 270 line it needs To be let's say you paid $3 for that. It needs to close at 273 At expiration to make sure that you become break-even so You know, it's Wednesday. We need to make sure that We are a little higher than 273 we were 275 and we're still 200 something percent If we were to close here at on Friday, obviously this this Profit would be a lot less. So the idea is to grab some along the way be happy with it and move on so just a recap What we looked for was a Very good play. We saw that the price activity on the premiums was very very good So the risk reward was there We got in on what we thought was a bottom and then it found support This was the first support and then we found support lower on the pre-market activity we bounce Took some profit on double top and then took the next profit the last profit we took Because I believe we took some along the way Took some as we were struggling to pass the 275. So I hope you guys are learning something and I hope to see you in chat. Thanks for watching