SFIX price action has been steadily down trending since 6/2020. November earnings created a gap down that has consolidated through the holidays. I am looking to take advantage of a continued downtrend with Put options. Trade factors 1. Tight squeeze. 2. RAF nearing the midpoint. Not there yet, so I will look to buy the puts at a higher than 1/7/22 price. 3. Vscore is resistance and solid Profile resistance. 4. 21/34 Propulsion Dots show continued trend momentum. 5. VWAP, 21 Propulsion, and Darvas levels are aligned to provide upward price resistance. 6. Buy 18 MARCH 22 20 Puts @ 19.95, 20.45 and 21.95. 7. Profit @ 18.05 8. Stop Loss @ 25% Option Loss.
Good Luck!
Order cancelled
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Day late on this trade - SFIX dropped 7% today to the Profit target!