Options Trading Check List
Options Trading Check List
1. _____ Trading Decision Not Dominated By Any Outside Communication
2. _____ Only News Considered Is That Which Has A Short Term Affect On Earnings
3. _____ This Is Not A Back To Back Trade
4. _____ Not Applying A Stop Loss
5. _____ Earnings Test Conducted
Price Action
6. _____ There Is A Bullish Trend On Weekly & Daily Charts
7. _____ There Is A Bullish Candlestick Pattern On Daily Chart
8. _____ Made A Distinction Between Reversal & Retraction Pattern
9. _____ Used Intra Day Chart Only To Get A Better Short Term Price
10. _____ Trading Cycle Identified (Phase 2 For Calls & Phase 4 For Puts)
11. _____ Price Action Not Showing Too Far Too Fast
12. _____ No Gaps Or Long Ranges Within The Last 3 Months
13. _____ [Chart Has Strong Rhythm]
14. _____ Buying On The Pullback
15. _____ Chart Not Showing Resistance Before Target Price
16. _____ Chart Not Showing A Consolidation Pattern
17. _____ [Price Increment Shows High Flier]
18. _____ Exit Price Determined Before Entering Trade
MACD
19. _____ MACD Has Strong Rhythm
20. _____ MACD Not Too Choppy
21. _____ MACD Not Diving Toward 0
22. _____ MACD Fast Line Is Above Its Slow Line
23. _____ MACD Showing Ascending Triangle Pattern
24. _____ MACD Is Above 0 Or Approaching 0 From The Bottom
25. _____ [MACD Is In Momentum Phase (Crossing The 0 Line)]
RSI
26. _____ RSI Has Strong Rhythm
27. _____ [RSI Showing A Sharp Bullish Pivot]
28. _____ RSI Is Not Too Choppy
29. _____ RSI Is Above 50 Or Approaching 50 From The Bottom
30. _____ [RSI Is In Momentum Phase (Crossing The 50 Line)]
Option Price
31. _____ Option Has At Least 3 Weeks Before Expiration
32. _____ VIX Taken Into Consideration
33. _____ Option Has At Least 100 In Open Interest
34. _____ Spread Between Bid & Ask Price Is Less Than .30
35. _____ Options Not Overpriced (Check Implied Volatility)
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