I wish I had posted this play sooner but I have been scalping ZM puts ever since it reject the .618 fib resistance multiple times...
Just by looking at the chart, it seems as though ZM is respecting the fib lines almost to a tee, as you may already know, I only play the .618 and the .382 fibs since those are the most important retracements. ZM has triple tested the .236 fib which is looking fairly weak especially after todays selling volume. I will be adding onto my current position if we get a confirmed break of 315 support. Stop loss will be 325.
This can certainly be a 100%+ play if you consider grabbing some puts a couple weeks out, the market has been dumping the whole week and it doesn't seem like its gonna stop anytime soon.
My positions: 4/16 275p, 5/21 240p
PT1: 292.77
PT2: 273.49
PT3: 232.11
Just by looking at the chart, it seems as though ZM is respecting the fib lines almost to a tee, as you may already know, I only play the .618 and the .382 fibs since those are the most important retracements. ZM has triple tested the .236 fib which is looking fairly weak especially after todays selling volume. I will be adding onto my current position if we get a confirmed break of 315 support. Stop loss will be 325.
This can certainly be a 100%+ play if you consider grabbing some puts a couple weeks out, the market has been dumping the whole week and it doesn't seem like its gonna stop anytime soon.
My positions: 4/16 275p, 5/21 240p
PT1: 292.77
PT2: 273.49
PT3: 232.11
Trade closed: stop reached:
check out most recent ZM post for more info