BA Weekly candle printed a hanging man at current channel resistance. This allows for short entry right now with an extremely tight stop loss of 369.5, only 1.5% loss. Minimum profit target would be 320 area around the 125 moving average, so just over 12% gain minimum. That computes to around 8:1 in favor of reward in this scenario. I like options in this case specifically, and I look for this move to happen quickly, before Sept 13th. Pretty self explanatory really. Happy hunting and GLTA!!
based on your idea bought some $350 puts for sep 6 exp last week. do you think they are good to hold or remove them and buy calls for next week? thanks.
UnknownUnicorn1314136
⋅
@RedToGreen, tbh I still like it to make it's way down to area shown, but most likely not by the 6th. I bought two Sept 13th 320 puts myself. However, I was already in those puts prior to the drop premarket yesterday, so I'm already so far up I can afford to wait. If you got in after the drop, our situations may be quite different. If that's the case, I personally would like to move my money to a stock currently touching a support/resistance trend line. That's my trading style, because I can set stops right outside the trend line and only lose a few percent if it doesn't go my way. I got the BA puts when I posted my first idea on it, so our timing may not have been in sync unfortunately. I hate to see anyone lose money, but it's an unfortunate part of this game. I hope we can make some money together, just might have to take a loss now and then as well. Best wishes whatever you decide.
RedToGreen
⋅
@DIVERTER, thanks for the reply. its up again today.no big news. thinking to get some puts for 13th as u said. do you still recommend puts now?