EXEL seems breaking down from a Triangle formation in short frame & breaking down an upward channel in the long frame. We think if it breaks below $25.93, it will continue its down move to 20 or lower.
To play this we would consider $27 April Puts
* Trade Criteria *
Date First Found- February 27, 2018
Pattern/Why- Upward channel breakdown short
There is a nice symmetrical triangle pattern that has formed just in time for earnings. A good indication that a decent move is in store for EXEL depending on the ER.
Green box : gap down here into support we could see some buying off the lower trendline and 100 day SMA, or the 200 day SMA if the price gaps that far. The latter being a much stronger area to...
Here, I'm looking to sell a touch of premium in an underlying that has both high implied volatility rank (99.6%) and high background implied volatility (99.2%).
Probability of Profit: 70%
Max Profit: $85/contract
Buying Power Effect: Varies by Broker.*
Break Even: 10.15
Notes: I'll shoot to take this off at 50% max profit. However, I could also see...
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