Bull on the Bear

Trade setup using a protective put on the TZA 3x Bear ETF

Risking about 8% if the trade turns sour.

We had 2 important cross ups today:

• RSI over 45
  
• Williams %R over -80
  

Observed bullish divergence in RSI.

Setup:

• 100x shares TZA
  
• 1x July 19th $10 P
  

May look to collar (sell an OTM call) the position if we reach target.