Great reward to risk in this weekly chart setup in $GSK, worth a shot, you can probably play it with options to not allocate too much capital in this idea and have limited downside risk. An ITM put spread or some kind of Iron Butterfly OTM can both reap the passage of time profiting from Theta dropping and also give a positive reward to risk if carefully implemented. Target zone is 41.35 by mid to late April.
Best of luck!
Cheers,
Ivan Labrie.
Best of luck!
Cheers,
Ivan Labrie.
Trade closed manually:
Some sell pressure could surface here near the 200 period MA:
Probably ok to side step this for now and wait to reenter on retrace.