Price has moved above the yellow line and I said I would be interested in calls over 188. However I am skeptical because Bitcoin has been leading tech/equity moves and watching Bitcoin this afternoon gives me pause. It is possible price is doing a "head fake", goes back into consolidation range and then breaks lower. This would get price back down to test recent lows (or move lower).
Stochastic looks like a turn is coming and RSI stalling under 65, which will be confirmed if it moves below 50 again. I bought puts when stock was around 188.50
Stochastic looks like a turn is coming and RSI stalling under 65, which will be confirmed if it moves below 50 again. I bought puts when stock was around 188.50
Trade active:
White line on chart shows 189-190 resistance. Bitcoin on 2hr needs a close below sideways range to confirm downside, but this weakness makes me skeptical of the SPX and NQ futures rise. It is more likely being played by MM's. If 10yr yield and BTC are dropping, I am holding my NFLX (and FB) puts at open and watch my indicators for a good reason to exit.
Trade closed manually:
Sold puts for a small gain near the open - wanted to take off the risk with markets leaning higher. Buying puts at 190-191.
