FB - swing PUTS - buy PUTS, BUY PUTS

2020年6月16日

This market is buying on fumes and news, not on real substance. Green line on chart shows high volume on tall green candle day. Red line shows lower volume on another tall green candle. In between, look at the selling volume. Also note that stochastic is still below RSI 14-day, which has not yet retraced to the 50 line.

With earnings not until end of July, I have a hard time seeing how FB could break this "top" and move much higher before earnings. I would expect people to take profits. Also, in general, the next round of earnings will include much more pandemic effects than Q1.

2020年6月16日

交易進行

Bought 7/2 expiry, 225 strike puts for $3.34. I will exit if stock goes over 238, but this changes for me with time and technicals.

2020年6月17日

註釋

If stock opens higher I will exit at lest half to cut risk. News over the last two days had increased bullish sentiment. so back to objective, technical decision making, if this rectangle (consolidation) is broken upwards, then buy calls but take profits along the way!

2020年6月17日

交易進行

Stock opened lower today and after first 30min of tug of war, candle closing lower. I will be looking for FB to close inside that rectangle today (see chart) and move lower. If this trade based on daily chart is working, then I will see RSI 14-day move below 50 on 30min chart (as a supporting signal).

2020年6月18日

註釋

Holding puts. Stock opened as a reversal candle (below yesterday's open) by a penny.

2020年6月18日

手動結束交易

Sold puts for 17 cents profit. After seeing price action in my stocks this morning, I decided to sell some swing puts and focus on day trades. I am starting to reevaluate my usual basket of stocks for calls.