Long COIN 180 puts for June

Continuation of the previous COIN analysis.

More bearish patterns have formed since the time of the previous analysis.

We now have a head and shoulders pattern. Head and shoulders usually go to at least 1.61 extensions of the head. This is a bit under 180 in COIN, so I am buying puts for that strike.

Kommentar:

I think this may have a bit of a rally from this area but if we do I'm going to short call spreads into it.

Stops on the setup are 234.

Trade ist aktiv:

Calls sold into rally.