Long COIN 180 puts for June
Updated
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.
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.
Comment
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 active
Calls sold into rally. 
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