Anticipating a brief correction to $71 tomorrow, before another drop to pre-covid support levels. Short will trigger at $70.85.
ATVI is already overpriced, and I anticipate negative news coming out of China on Thursday during the NPS meeting, further accelerating a drop through the week.
Looking to short ATVI to the $66.50 area and re-evaluate.
ATVI is already overpriced, and I anticipate negative news coming out of China on Thursday during the NPS meeting, further accelerating a drop through the week.
Looking to short ATVI to the $66.50 area and re-evaluate.
Comment:
So far ATVI is trending up towards next fib level. Added several debit spreads at $66.5/$66 06/05 EXP
Trade active:
So I picked up a few more Puts today near the top today and made 160% on those (5/29 $68.50) just before close. Nice short term play to make up for underestimating the top yesterday! Still holding my original put spreads through tomorrow. New analysis:
Trade active:
I have two Bear put spreads active right now (market close 06/02):
06/05 $66.5/$66 - Down -42 % currently
06/19 $71/70 - Up +18% currently
Will continue holding, likely the 06/05 contracts are a total loss.
06/05 $66.5/$66 - Down -42 % currently
06/19 $71/70 - Up +18% currently
Will continue holding, likely the 06/05 contracts are a total loss.
Comment:
Likely we see another breakout to 75.50 if resistance is crossed.
Comment:
If no retrace near the top of the channel I will look to close the 06/19 Bear put spreads by thursday 06/04.
I'm expecting China to retaliate against US firms and markets amid delisting and Huawei news