So Today I opened a trade at 6:45 AM PST. I saw on Quant Data that the Deltas were red, yet price kept pushing up so I decided to make a trade the moment a candle had top wick close. The Strikes I chose were ten points further from the positive MVC which was 6930. The calls I sold were 6940/6950 for $0.60 Premium. Looking to close this for $0.10. I set a stop loss for $1.20 so that my risk to reward is 1 to 1. I’m not sure if the trade will work in my favor as this is going against the trend however the deltas are saying that it will be hard to push further up past 6900 unless that red delta goes away.
Update: I ended up closing these for $0.30. Trade took too long so better safe than sorry. I was also going against the trend.