Bear market rally top in view - buying Puts
July 17 2020 Put - $50 strike
Kommentar:
Looking good so far. I considered adding more contracts to the position yesterday but didn't pull the trigger, wishing I had now. Oh well, you know the old saying about pigs and hogs.
Kommentar:
AMD looks super bearish, but with QQQ hovering around 204 as I type this, I think it's still possible we see another swing up higher for the overall market. And obviously there are still AMD 1st Qtr earnings that could provide another swing up for AMD at the end of the month. If that happens I'll plan to add more Long Puts. If not I'm going to enjoy the ride down. Looking for $30-$40 range by early July.
Trade ist aktiv:
I picked up some cheap July 17 $60 strike calls on the dip today as an upside hedge.
I'm still bearish on AMD and the market as a whole, but with the way the market, especially tech, keeps powering to the upside and AMD keeps flirting with a breakout I decided it was best to play this as a straddle.
I'm still bearish on AMD and the market as a whole, but with the way the market, especially tech, keeps powering to the upside and AMD keeps flirting with a breakout I decided it was best to play this as a straddle.