P&G is regressing as expected, $91.50 seems to be a reasonable support, a break below may trigger a quick plunge to $90.50.
I am very excited for my short position, I think this has another $10 to drop in 2019
Noticed that Dec 21, $10 calls have an open interest of over 90k!
Last time I saw that much option at one price point was at the end of October for $10.50 puts, and look how that turned out.
Someone out there feels pretty confident, and at $0.02 it is cheap enough for me to follow the crowd again.
Interesting that we filled the October 30 gap, price of $166.15 was a comfortable floor until the latest gap fill.
With no 10/20 death cross and not overwhelming bearish divergence, I think we will get some relief this week
