As price broke the support line, technically theres a chance it will continue dropping.
Positive news on the stimulus won't help travel and I do not expect an influx of investors into the travel industry as it is one of the weakest sectors and money would probably flow first into something more solid like tech or at least the S&P 500 .
- This is a protected trade. If price goes , I have a chance to hit my max gain of est. $3222 but I must close the contract before it drops too much my way otherwise I will start losing.
- If prices don't go my way (goes bulls up) or ranges I will collect est. $1250
- Would prefer this to be a 4 weeks contract, but 18 Sep (8 Weeks) had a better price for my trade structure
Sold 80 Puts @ 0.26, Strike 12
Bought 10 Puts @ 0.73 Strike 14
BP block: 10k
Max gain - est $3222
Planned Minimum gain - est $1250