I took a risk on 25 Sept to short when the price got rejected by my 8ema & 20ema (posted in real-time as you can check the different in candle).
When the price broke down of the smaller triangle bottom, and followed by the broke down again of the bigger triangle bottom, i knew my odds are in good hand.
My original anticipation is for the price to retest the bottom of the bigger triangle before the next lower low.
And, since i am ready to lose first before i make handsome gain, i am mentally prepared for IBM's earning to beat analyst's expectation. If that is the case, the price will surely GAP UP and perhaps testing the 200ema. Then i would have to hold the options longer until the price drop
Hence, somehow it is just an early Christmas gift from Warren Buffett ( IBM is one of his holdings)
In a matter of 3 weeks, i shorted KO & IBM , i think i got some attention from Buffett, he he
NOTE: Holding an options and carry it into earning can either slaughter your gain or flush you with handsome gain. But always be prepared to lose first