We can see that price had a hard time breaking through 44-45 zone in which the price sharply dropped to the 38 area.
I have been patiently waiting for a rebound to a more favourable zone for entry. And now its here.
Today we have the Fed talking, as well as the market has been bullish since open. And most might argue that this is a risky setup going against the current momentum. However, I am still bearish until proven otherwise, and I only follow my trade plan. And you should follow yours.
I want the big move down, and to keep my risk low, I will enter OTM puts, and will close once/if price reaches close to $38. If I happen to be wrong, so be it. Loss is a fraction of what the profit goal is. Risk management is key.
#Options - Beginning of Dec expiry
I have been patiently waiting for a rebound to a more favourable zone for entry. And now its here.
Today we have the Fed talking, as well as the market has been bullish since open. And most might argue that this is a risky setup going against the current momentum. However, I am still bearish until proven otherwise, and I only follow my trade plan. And you should follow yours.
I want the big move down, and to keep my risk low, I will enter OTM puts, and will close once/if price reaches close to $38. If I happen to be wrong, so be it. Loss is a fraction of what the profit goal is. Risk management is key.
#Options - Beginning of Dec expiry
Trade closed: target reached:
My target is 38 and currently stock is trading at around 40. Im going to close and take profits earlier as my expiry is coming up and the price is caught up in a chop. Greed kills profits. ALWAYS.