JNPR Downgraded today, The Trade was yesterday

Yesterday I took a day trade off a day trading cloud breakout strategy on JNPR. When price closed below the cloud and setup a pivot I set an alert for a break of that pivot low to trigger a breakout short strategy. Since jumping into options when price is moving is a recipe for getting terrible fills I have to wait for a pullback. The pullback comes when price comes up to confirm the prior pivot low as new resistance. Combine that with an Ichimoku level at that level and moment and it creates a high probability setup with well defined risk.

I took August 22 Puts because I wanted to avoid the theta hit of July's and chose a strike that would get me ITM at around 3:1 Reward/Risk. I had no idea the downgrade would come but it gapped price well ITM and I took profit.

Wider Market Outlook
My eye is on the technology sector this month. Seasonally it is set to move one way or another and so far during the first few days of the quarter the best trades have been bearish in this sector. Money flowing out to technology while simultaneously moving to "safety" plays suggests traders are getting risk averse.