This is more on the riskier side. So we need to adjust our risk tolerance accordingly. Based on the levels on daily, weekly, and 4h, I believe Marriott has the potential to go for a dive low to find support before it goes higher.
For now its holding the top, but if and when the sellers take over, it could be a quick ride down. As you probably have seen from my other ideas, I like to jump on trades before most do, and i take profit at areas where others might consider as "confirmation".
The truth about too many confirmations is that it kills your profits. you dont want to do what everybody else does. Or you'll be in the 95% of losing traders.
This trade could be a hit or miss. If its a hit, I gain 3x my risk. And if its a loss, well its part of the game and it wont hurt me. Dont focus on what you'll make from a trade, focus on how much the opportunity costs you.
I will get on this on a debit spread to keep my risk as low as possible, end of December expiry. Limit order for better price. Hope that helps. #options
Trade closed: stop reached
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MAR and HLT trades were moving very similar. both positions got close to target and reversed. They will expire worthless tomorrow on Friday.
Trade active
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Mistake on expiry date. Trade is still active until end of December. We still got time