chaseflores10

ADI at top of channel

Long
NASDAQ:ADI   Analog Devices, Inc
Looking to play puts at the $175 strike expiring 10/29. ADI has been rejected by the top trendline of the channel 5 times previously. If ADI breaks above the trendline on increased volume will look to close position and enter calls. I think this gets rejected again though and heads to $173-174 before bouncing.
Comment: Played out just as expected. ADI couldn't stay above resistance so I stayed in puts and they printed.
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