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ShortSeller76
Jun 7, 2022 6:09 PM

MPC WAY OVERBOUGHT Short

Marathon Petroleum CorporationNYSE

Description

Purchased 110 July 8th $110 puts. Overbought on many daily/ weekly indicators including weekly rsi of 90!!! 95 stochastic, to Bollinger band pierced.

Comment

Added 10 more puts on this mornings pop. Total 120 puts looking for retracement to $105 or under.

Trade closed manually

Closed trade on this mornings drop, ultimately I feel this can go lower. However in my experience when the market is down 850 points in the first 90 minutes of trading we often get a bounce. Closed trade for 35% profit on my 120 puts
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