The broader market took a downturn yesterday with the $OEX, $INDU and $COMPQ indexes all dipping below their 22pma.
However, I have assessed the SPY and DIA for potential downside trading, and the stop losses are running too high to make it worthwhile. You may want to check individual stocks for potential broader market trades to the downside though.
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Check out NE for short term PUT.
NE@49.15
OCT 50 Put @2.50
IV = 40.70
SL = 50.04 (if use 22 pma)
Risk = 28 %
if SL = 50.04 + 1, then risk 40 %
But then NASDAQ seems to be peeking up. So how ??
I think NE Oct50 Put is no go. Daily chart doesnt have room to move. Maybe wait till it pass below 22 and 50 dma.
Hi
I did 2 ST BM trade on Tues 25 Sep
1. MER Oct 75 Put @4.20
Exit Day 3 @ 5.10
Teeny profit of 21 %
2. FAST Oct 45 Put @2.15
Got stopped out on Day 2
Lost 21 %
Applied same principles, same calculations, etc. 1 win 1 lost. So.. I think definitely luck is involved.
I also did ST Before Earnings.
WAG Oct 45 Call @1.80
Just to try it out, bought call when BM was down.
Got 66% profit ! Definitely luck.
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