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Synaptic724
Sep 23, 2019 2:06 PM

PNC Support and Resistance Play Short

PNC Financial Services Group, Inc. (The)NYSE

Description

PNC may be rebounding a bit for a pullback to 135

Put spread 140/135 Price was $1.92, Spread 5 points.

Max loss will be twice the profit.

$1.54 will be max profit for a total of $3.46 in the spread.

Max loss is 75% of total price of spread. Which may be taken at 75% of duration of option if the play is wrong so October 14-20. If the play turns out to be wrong and continues higher.

Max loss is $144
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