Hyatt is part of the hotel sector that has been battered by COVID-19 and since Mar it has slowly been gaining ground by following the overall market's bullishness. As it is one of the hugely weakened sectors, I don't expect much speculation/volatility in this sector (Near term).
At this point (24 Sep), the market has been bearish across sectors. H's price...
Risk to Reward is EVERYTHING!!!
This trade is simply a hedge for my current long in Hyatt.
This will be a little riskier, so i will play it shorter term with cheaper contracts.
So this is just an addition to one of my previous ideas. Theres a huge gap left with the move previously made which will get filled slowly following the trend line i drew.
The pattern has set up a short in a weak stock within a weakening industry group. Ideally we get a back test to 76.50 but since the hourly chart has a minor back test yesterday a short position here is now valid. I have taken a small position and will add if we get a back test on Friday September 7, 2018.