MDT broke down with medical stocks at the end of 2016 and has started to pullback. Prices reached support and the 200sma before retracing. Currently, prices have completed 1 leg up and are looking to complete 2nd leg to the 34EMAL.
The downside of this trade may be limited by previous lows and the 200sma, however, there is still enough room to make $$ if prices form a double bottom.
I'm looking to Buy Jun 77.5 Puts between $77.20 and $78.20 which would put prices between $4.1 and $3.6.
First Profit target = $74.20.
The downside of this trade may be limited by previous lows and the 200sma, however, there is still enough room to make $$ if prices form a double bottom.
I'm looking to Buy Jun 77.5 Puts between $77.20 and $78.20 which would put prices between $4.1 and $3.6.
First Profit target = $74.20.