 Now, let's talk about GitLab. GitLab is a stock that was coming off good earnings from yesterday, so it made a big pop in the after hours. Let me ask us here, folks, really quickly. When a stock breaks above resistance and it runs off of it, resistance should initially look to become what? Okay, support, support. So if that's the case, then might I ask, where could we find potential support on this trade? There's past resistance on this trade. So I guess the best way for me to answer this in full, I can peel this back right now. Now is the time I can peel this back. This is my chart that I've been trading off of today. I have a bunch of lines up here, mind you. I have a bunch of different lines. They have different meanings to them. I have a couple purple here, one on the bottom, one on the top. Those are historical levels taken from the daily chart. I have green lines here. Let me ask us, folks, on time and sales, what do we nickname green as? What do we nickname green as, at first, on time and sales, buying? So let's actually draw back to book map here on the GitLab. I'll tell you where I ended up taking the calls. It was for June 9th, but I ended up taking a higher, it was out of the money at the time because you're going to get a cheaper premium, but let me, I need to go back back one second, one second. So one thing I actually first is when you're looking at icebergs, at least you could see, there's about 7,000 shares on the bid at 44. There's about 10,000 shares on the bid. What price is that? Hmm, 42.43? 42.43 is that? That's kind of a funky price. For a more expensive stock that pops, you're typically focused on the whole numbers, right, like 44. Even 43 you could be. There's nothing there though. That's all right. Well, this is pretty interesting because this is not as normal, quote unquote, of a price. There's a little guy here at 42, but there's 10,000 shares on the bid exactly at 42.40. Okay. So it's at 42.42 that price. Let me write that down. Now that's an iceberg order from this morning, right? So that was a level. I'll show you that on my chart, but where do we have potential resistance here? Where do we see a potential breakout otherwise? Well, we have 42. It broke above and we have a lot of volume filled from the CVP column there. We have a lot of buying at 42. We have some buying at 43, right? That's where we see at least more buying than selling off of 43 here. It broke above it, re-broke it, and then resistance did become support in the after hours in Iran. But otherwise, you have buying at 43 and you have buying at 42. Okay. So actually, how about this? I have all my lines on my other screen here, so I'm just going to delete all this crap and we're actually going to just focus on those lines in particular. So we have one at 42, we have one at 43, and we have one at 42.42, all right? Now, they all have different meanings or at least the one at 42.42 has separate meaning because that's an iceberg level from pre-market this morning. There was a limit buy order out there at 42.42, and then we had some big buying prices from after hours yesterday at $43 and at $42. So consider this to be a web of support. When the market's going to open up here, if we're looking for a pullback on this trade, then hey, we'll wait, we'll be patient, we'll wait to see this drop off. But at least all three of those lines should act as a web, as a net of support. So it's not to say I'm banking on 43 being the low point. I'm not banking on 42.42 to be the low point. The lower, or I'm sorry, within the net, perhaps the lower within the net you get, the more probable it is it will bounce over time. But heck, there's still a chance where it could bounce from 42 or it breaks under and then back over from 42 and it goes from there. It's simply to say, since I have a bunch of lines here and it looks pretty strong as a potential support, I'll use all of them as a potential support, kind of have it fall within this web of support by the time the market opens up. So at first it pulled back and then it pushed. I said on audio, I said, I think it's going to break lower, I have a feeling it's going to break lower here. I didn't take it here at the time. I was expecting this to drop off a little bit closer towards 42 and 42, 45 at the time, 42.42. So ultimately there was a couple of entries I took on this trade and I'll tell you the premiums I ended up getting in from. So it was the first one right off of 10 o'clock, is this the right one I have here? I'm on my laptop right now and I have my options chain in front of me but then I have to transfer it to a chart. So I ended up doing 45 calls on GitLab just because it's going to be a lower premium. Just it's out the money, yes, but I'm not trying to like hold on like exactly to 45 or I'm just trying to day trade it. Of course, I hope it goes to 45 and much higher, which it did and thankfully we're still in on part of the position ultimately. But you know, I ended up jumping in at the time, the entry, the spot price was 42.45 roughly and then the time was right prior to 10 o'clock at like 9.58. So I ended up getting filled, it was right off of like 89 cents and 90 cents right there at first. Well the thing with options is that it's a lot more leveraged. So given the move that you see where the stack went from 42.42 up to like 43.50 and changed, made a dollar move up, well the premium that I was in from at least spiked up as high as a dollar 25. So I really could have gotten out at the time at $1.25 in from 90 cents. I ended up getting stopped out, breakeven on that trade as it pulled back. I don't want to catch a fallen knife or rather hang on to a trade as it continues to drop. So I ended up getting out completely breakeven or I probably took a loss on that just given the in and out. But otherwise I ended up jumping back in, I got in at the exact same call price off of 90 cents and that was about it, like 10.15 or 10.13 in the morning. Right once it rebroke above the blue right here, I jumped back in. So it's easy to say but when a stock breaks through a big level, what are we getting shortly after? A big move. So before trader stock started I ended up taking half my position out, it was just at like 45.42 at the time or so or 45.40 at the time. I ended up getting out as right off of like 183 or 182 as far as the call price. So hey, yeah, you could definitely make some big money trading options but you need to learn how to follow the stock first. I would not have been interested in GitLab at all if I wasn't trading the call but otherwise it's a matter of where to get in from and mechanically how to take the trade. You know, it's not like I was catching a fallen knife by leaving an order out there just waiting to get filled. I'm a Cyber Group member today. Just click the link below and receive all these amazing products and a world of knowledge for just $9. Do it today.