3rd Trade: ING and a Market Correction

The 3rd trade in the challenge is the INGA short. Recent press surrounding a money laundering investigation headed by the Dutch authorities, coupled with a weak trend, make ING Bank a perfect candidate for a short position. As previously stated i do not take a physical short, I use put options to gain exposure to the downside. With almost 40% of my £800 capital invested, I need to be sure about this trade.

Why ING Short?
  • B52 Trading Strategy gave a strong short on this stock with 4 different signals throughout June.
  • AlphaR Strategy Short signal on the 14th June
  • ]Fundamental weakness with regulatory issues, coupled with uncertainty in the European banking sector (Brexit and Trump Trade Tariffs)

Trade Details
09/07/2018 09:26 09/07/2018 Buy 3 ING P12.00 21DEC18@0.52 EUR (NLENX5822038) ING P12.00 21DEC18 EUR -156.00

In summary i purchased 3 Dec 12.00 Puts on ING at a cost of 52c (EUR 156).
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