Short First Quantum Minerals (FM) through puts with good R/R

I believe, the FM rallied more than it had to. On 30 min time frame I think elliot wave is (upward move part) is completed right now, I expect to see a consolidation so it can continue to its run. I believe valuations are there but here is still global macroeconomic uncertainty, this weakness might be some profit taking or trimming of some of the position before Trump, Xi meeting. If the meeting blows up further weakness will turn into a sell of, I think out of the money put options or if you have the underlying a protective put would be a smart move at these levels. The reason why OMP is, if meeting goes well copper can get an easy boost inturn lifting fm's price. 2 Major resistances 12 put seems attractive to me.

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