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JP Morgan Chase
Short

Short Term PUTs on $JPM - Head & Shoulders Pattern

268
JPM has a clear H&S pattern formed on the hourly chart. We are waiting for confirmation of the neckline breaking now with volume. This confirms a significant downward move in the short term. I have started a small short position in 6/26 & 7/2 90p. Hedging these with longer dated 105 and 110 calls. Will scale into the short positions once the move is confirmed, and then look for a reversal to move profits into calls.
magnum91
Head and Shouldersjpmorgan

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Head and Shouldersjpmorgan
magnum91

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.