What about using stop limit

Using a stop-limit order can be a prudent strategy to combine risk management with price control. Here's how you can set up the trade with a stop-limit order on Robinhood: 1. **Tag the "Trade" Tab**: At the bottom of the screen, tag the "Trade" tab. 2. **Select Robinhood**: Choose Robinhood from the broker list. 3. **Follow On-Screen Instructions**: Follow the on-screen instructions to connect your Robinhood account. After connecting your account, you can proceed with the trade setup: 1. **Choose the Stock**: Select Rich Sparkle (ANPA) from the stock list. 2. **Select the Option Contract**: Choose the ANPA.O September 19th $4.00 Call Option contract. 3. **Set Stop-Limit**: Place a stop-limit order with a stop price at $3.50 and a limit price at $5.00. Here's a summary of the trade setup with stop-limit order: - **Stock**: ANPA (Rich Sparkle) - **Option Contract**: ANPA.O September 19th $4.00 Call Option - **Stop Price**: $3.50 - **Limit Price**: $5.00 - **Premium**: $500-$1,000 (for 10 contracts) - **Profit Target**: $5,000 (target price of $5.00-$6.00) The stop-limit order will trigger if the stock reaches the stop price of $3.50, then execute at the limit price of $5.00 or higher. This setup aims to limit potential losses while still capturing upside potential. Monitor the trade closely and adjust your strategy as market conditions evolve.