Setup looks bullish as it completes 5th move of Elliot Wave, bounces off bottom Bollinger Band and cuts through 10 ema on the hourly.
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Considering that SPY looks bearish right now, I bought puts in MU which seems to have a bearish setup to hedge this.
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sold calls at 81.87, looks like SPY formed head and shoulders. I want to avoid market risk as I already exited my hedge early since it hit it's stop. Maybe in the future I shouldn't do that?
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Net profit of .23 including loss on hedge