ACB is starting to waiver as it approaches support and it's next test will be the final one for the trend. If it breaks here we're moving into a bearish move. However it could also hold and move higher the market does seem to be fading. The odds of a bearish move are picking up. I'm going to engage in a PUT position against ACB.
Buying 4x PUT EXP May 17 Strike 11 Cost is 0.85 per contract.
Target is going to be at $9.5 - $9
Buying 4x PUT EXP May 17 Strike 11 Cost is 0.85 per contract.
Target is going to be at $9.5 - $9
Trade closed manually:
This trade went bad due to Merill Lynch catalyst