DUK Weekly Options Play
Updated
Description
DUK has been working this patter that looks a lot like a head and shoulders, missing some volume indications. If so, the neckline has been broken here at 97.
As always, most patterns are not confirmed until they are already over.
The break through 97 is the signal for the entry, and also the stop loss for the position.
Using long puts to leave the downside open.
The level of the VIX right now is my primary concern in opening long option positions. I consider all of my positions risky, and manage risk accordingly.
Long Put
Levels on Chart
SL > 97
PT : 86
*Stops based off underlying stock price, not mark to market loss
The Trade
BUY
1/21/2022 95P
R/R & Breakevens vary on fill.
The January dated put is due to the limited amount of expiration dates to choose from.
Manage Risk
Only invest what you are willing to lose
DUK has been working this patter that looks a lot like a head and shoulders, missing some volume indications. If so, the neckline has been broken here at 97.
As always, most patterns are not confirmed until they are already over.
The break through 97 is the signal for the entry, and also the stop loss for the position.
Using long puts to leave the downside open.
The level of the VIX right now is my primary concern in opening long option positions. I consider all of my positions risky, and manage risk accordingly.
Long Put
Levels on Chart
SL > 97
PT : 86
*Stops based off underlying stock price, not mark to market loss
The Trade
BUY
1/21/2022 95P
R/R & Breakevens vary on fill.
The January dated put is due to the limited amount of expiration dates to choose from.
Manage Risk
Only invest what you are willing to lose
Trade active
Filled this @ 2.39 yesterday.Trade closed: stop reached
Filled @ 1.8, -25%.
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