BRK.B 2-year uptrend channel was broken last week. As you can see BRK.B peaked in mid-March 2022 with a classic blow off top pattern. Since BRK.B April 1st Friday close of $351.88, it closed a whopping -$83.80 or -24% in that time frame at $268.08 last Friday 6/17. I'm posting this as bullish because BRK.B closed at March 2021 levels area last week in a possible horizontal support zone. So I will be planning a short / medium term bounce long entry at some point this week *maybe. 7/1 expiry otm call on radar.
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
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BRK.B 7/1 expiry options data: Put Volume Total 160 Call Volume Total 466 Put/Call Volume Ratio 0.34 Put Open Interest Total 4,048 Call Open Interest Total 4,395 Put/Call Open Interest Ratio 0.92
Trade active
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7/15 expiry otm call plan is to dca position over the next 3 weeks
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BRK.B 7/15 expiry options data: Put Volume Total 146 Call Volume Total 350 Put/Call Volume Ratio 0.42 Put Open Interest Total 23,591 Call Open Interest Total 23,352 Put/Call Open Interest Ratio 1.01
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Can't hurt to get put hedge insurance over the weekend if you've been long. imo
I think this week (of 2022-06-27) is going to be extremely wild crazy ripsaw. Perhaps a pop, then tapering off agin to the slow slog down. To dicy for me. I'm holding out for the last leg down. When that will be, I doubt anyone knows. Could be weeks, months, or 2021. Thoughts?
Dakotamoon
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Question (sorry I'm at the beginning of the learning curve) about the Trend Reversion indicator on your BRK chart:
Did you use the built-in "Linear Regression Pearson's R - Trend Channel Strategy" indicator, or did you construct your Reversion channel some other way, manually?
Sorry, I don't mean to be a pest, but your chart is so enlightening for my goals I need to learn the process. TIA, John
Options360
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@Dakotamoon, it's a long intricate story from years of experience of trading wins and losses. lol. Short story is I try to think in 360 degrees & trade with all the multitude of probable variables. Plus I'm outside in the sun for the rest of the day today. Peace out. Have a super weekend.
Dakotamoon
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@growerik, Okay then. I totally understand. Be free! Go forth! Enjoy the beautiful day outdoors in the sun, where we all should be. I live in Ocean City, NJ, across the street from the beach. Funniest thing, because we've live here for decades we rarely venture down to the beach any more unless we have company. That said, we do not take for granted the extraordinary gifts of the sea. The view, the cool breezes, the ambiance. Each morning when I get up I just sit and stare at the ocean as I sip away at my 2 pots of Starbucks coffee. Yes, 2 pots! Without it I can't wake up.
ENGJOY the day! All the best, John
Options360
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@Dakotamoon, Yes mother nature is not only good for health and happiness it's positive for trading decompression and mental rejuvenation. 🖖
Dakotamoon
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I'm predicting an SP bottom at 3,200, and therefore a BRK.b entry point at -15% from today, at 231/share. I'm going in LARGE, and LONG. All or nothing. One-time Limit offer. Yes, it will be a while. I'll wait. Thursday, June 23, 2022
Options360
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@Dakotamoon, awesome 👌. Whip up a chart and post it here.
Dakotamoon
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@growerik, Well, I'm basically inept at creating meaningful charts, but I'll try to come up with something. My hypothesis is simply based on a guess that the S&P might finally bottom out aroud 3,200, or now I'm even reading 3,000, so I therefore simply used that drop (approximately 15%) in the S&P to calculate the same drop in BRK. Who knows. I'm certainly no expert, but I don't have the patience to fool around with DCA'ing in, and having to follow the markets as diligently as I should. That's all I know. Just my two cents worth. Time will tell. I may adjust the limit offer as time goes on for the best entry point.
Perhaps a pop, then tapering off agin to the slow slog down.
To dicy for me. I'm holding out for the last leg down.
When that will be, I doubt anyone knows.
Could be weeks, months, or 2021.
Thoughts?