ORCL Needs to Pull Back

In less than 1 month, Oracle has ripped 14% higher with no pull backs in the last 7 trading days. This has reached the prior highs and is due to retrace back down to $48-47.50 at least. This was beaten down for no real reason, but this needs to pull back and find support before it's next leg up.

Heavy on 7/27 $48 puts for a high risk, quick swing trade

Comment:

sold my puts early morning yesterday on the initial pull backs. Reinitiated late in the day and added more this afternoon when it retested the highs of 48.80.

Thesis still stands, this needs to pull back and recharge before marching back above $50