I was looking for some short exposure for next week, and landed on JPM on my target.
My rationale:
My target is 145, and my SL is at 149. As these targets are very close to the current price, I will express this with a short term vertical put spread. But, as always, this is not a recommendation to buy or sell. Please do your own research.
I welcome your opinions in the comments.
My rationale:
- I expect that some of the pre-holiday cheer will turn to hangover by next week.
- JPM is at the upper edge of its declining 1-month trading channel
- There's a highly predictive broken triangle pattern
- DXY is zooming today, without anyone paying much attention, and could easily take out the 5/31 high of 104.70. This would likely come as a reaction to bad news from China, and could translate into increased domestic recession fears in the US.
- I already have a lot of financial long exposure and can use a bit of short-term protection.
My target is 145, and my SL is at 149. As these targets are very close to the current price, I will express this with a short term vertical put spread. But, as always, this is not a recommendation to buy or sell. Please do your own research.
I welcome your opinions in the comments.
交易結束：目標達成
Technically JPM bounced at 145.01, 1¢ above my target. In practice, this was close enough for a partial profit. I closed 3/4 of my vertical spread position for a 150% return and will let the remainder ride.交易結束：目標達成
Closed the last quarter position in the spread for a 270% return.
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