GM

Coming off an overbought condition with MFI divergence. Going for a one day all or nothing deal with weekly puts.

Auto sector looks weak today, down when the market is up big. Looks like a sector rotation out of autos.

Comment:

Looking good so far, nasty double red candlestick, usually very bearish for GM. Broke the steep up trendline on the intraday and backtested it with the gap up this morning.

Prob would have been safer to go July 12 instead of this week.

Trade closed manually:

Well, got my money back from last week.