Hi mate, although CBA ranks along side BHP as my most watched stocks it's not one I day trade; instead I use as a proxy to trade XJO.
It's mainly run by algos and MMs and comms on such a high sp make the risk/reward pretty poor for ST moves.
However it does have decent set ups for bigger moves - so I personally use options for this type of exposure.
Dec/Jan got the H & S breakdown Feb got the earnings bomb March got the bank crisis (although US banks gave that one away early)
Although CBA has been very good to me over the past few months I'm not getting ahead of myself as markets are pretty bipolar atm...
Current set up isn't as clear, however plan was to step back into puts if CBA ran back up to $99.50-$100 as there's a number of resistance triggers with the 2yr VPOC, ST HVNs, $100 psychological level and important Fib levels all condensed around the same zone.
Add to that the volume void I described in an earlier post which made the move up a pretty clear run (not convincing for bulls).
If said resistance zone holds then I'd expect the sp to take the path of least resistance and test $95.5-$96 zone, so I have just gone a put spread this time around.
I personally believe the bank sector is in for some rough times ahead but as always timing is is the hard part so be sure to DYOR and form your own opinions.
Hope this helps...
CBA Price at posting:
$99.01 Sentiment: None Disclosure: Not Held
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