- +2 VERTICAL COST 100 (Weeklys) 27 DEC 19 300/292.5 PUT @5.00 ;
- Trading @ low IV after the dump;
- Decay helps if price < 294;
- Sold high extrinsic put to buy high intrinsic put
STRATEGIES: Using COST day chart:
- The 20/50 Mean looks set to make a big pink cloud after a long chart runup.
- The line signaling a continuation short.
- The last bailing of stock price turned out to last a few days.
TACTICS: The plan in terms of stock price:
- STOP is price > 295 (MUST OBEY, Upside down R:R trade)
- TGT1 288 to scale; TGT2 286.25 to exit (NO EARLY EXIT, Upside down R:R trade)
- Consider scaling as pink cloud becomes large
- We may let the and 20/50 mean together take us out technically for whatever we get win or lose.
Will update in comments,