CBS May 10, exit option!

CBS May 10 2

Here is CBS, first discussed on Feb. 22 for the purchase of a call option. Here is the text then. It was written  where the two red arrows are in the chart.

Cbs May 10

If you had bought the June $5 option and held it to this point, it is now time to sell. RSI, MACD, 200-day MA, and the wave count all suggest that this is it for the time being. With less than a month to go to expiry the option should be worth about $3 .40 bid, $3.70 ask, for a gain of more than 8X.  The $7.50 strike , June is $1.05 / $1.15. If an earlier expiration date was chosen, with a $5 strike  there would have been a smaller gain. Lets just call it 30%.