Synaptic724
Short

ILMN Breakdown Put Spread

NASDAQ:ILMN   ILLUMINA INC
ILMN Sold off big time and fell lower, similar to ALGN

Put Spread $282.5/252.5 EXP is September 27th

30 points wide and cost was $9.13

Market continues to sell off and it could move lower to EMA 200 where it may bounce.

Exit 1 underlying price of $252.5 and max profit will be $1050 Time looks good and my preference for this move is around 45 days.

Max loss is $500 USD

Exit 2 is market rally's on some kind of news and this stock moves higher blows through 300 and just complete destroys my original plan.

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