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thisbemax
Nov 6, 2018 9:24 PM

Buying puts on cheeseburgers Short

McDonald's CorporationNYSE

Description

Short term bearish on MCD. Just hit key resistance level matched by bearish RSI/Price divergence. I'll stay short for the time being unless it breaks out above its resistance level. This also came after a long run up, thinking of buying puts while they're cheap.
Comments
NikhilMamu
@thisbemax what time frame and strike you looking at ?
thisbemax
@NikhilMulley, you're looking at a 6-month chart with big swings every few weeks, so I might start looking at options 2-3 weeks out at/near the money where there is plenty of volume. Just to be clear though - i personally have not purchased any puts yet. But if you follow through on this one good luck to you!
thisbemax
Also, don't mean for this to be investment advice, just my opinion
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