The play here is near term puts for move to 140s, which is the black path.
Best case scenario for longs is it shows sign of strength with move to 165 (green path) - in that case it would still need a Bu/Retest which eliminates significant upside risk,
Worst case for longs is red path - move to low 130s, dead cat, then more down.
Black path most likely case, this should get hit fast.
Best case scenario for longs is it shows sign of strength with move to 165 (green path) - in that case it would still need a Bu/Retest which eliminates significant upside risk,
Worst case for longs is red path - move to low 130s, dead cat, then more down.
Black path most likely case, this should get hit fast.