This is a very good trading opportunity to take advantage of a put option on whole foods over the next few weeks.
Several reasons why i have decided to have a buy put option going into the after the open as long as price did not gap down over night.
A) price is clearly in a market ( is indicating)
1) weak tk cross, followed by a kumo break
2) price closed below the kumo
3) price formed a swing low under the kumo along with the kumo break
B) The current state
1) price formed a swing low
2) this weeks candle stick is currently trading under the swing low ( in most cases i would wait for the close, but I have decided to buy a put option before this weeks close incase the market gaps down)
3) fib projection levels are slightly hovering over each other. They are hovering around the e 33.30-33.53 level
4) price theory formula has predicted price to be at the 31.22 level, this is well below the fib levels hovering over each other.
I am purchasing 2 contracts, exiting 1 around the 33.50 area and then around the 32 level if the market hits these prices before the expiration date. Other wise i will have to take a loss before expiration or roll the contracts and re configure where the break even point would be from the roll on the options.
This is not a trade recommendation, this is solely for my personal use to share on how I trade the market.