MSFT: small short
Updated
i totally hate to use the weeklies, they're so volatile - but i opened a small short (March 6 160 puts) in an attempt to ride this quick move down. The day's volume and Open Interest on these contracts is crazy.
still hoping we touch the $160 tomorrow - and i don't want to hold that position over the weekend. i have no doubt the long awaited correction has started, and not only for MSFT.
- the other things is, when inspecting the chart closely, in my view, today's action is more of an attempt to keep the price up to sell into the highest price, more than authentic buying pressure. looking at bar spread vs volume on the 30mins
we'll see tomorrow. will update.
still hoping we touch the $160 tomorrow - and i don't want to hold that position over the weekend. i have no doubt the long awaited correction has started, and not only for MSFT.
- the other things is, when inspecting the chart closely, in my view, today's action is more of an attempt to keep the price up to sell into the highest price, more than authentic buying pressure. looking at bar spread vs volume on the 30mins
we'll see tomorrow. will update.
Trade closed: target reached
PUTs closed - hit target below $162, and saw that THETA is almost 25% of the put price so decided not to hold to tomorrow.Note
Sorry.. THETA ~10% of the PUT price (can't be 25% if the PUT still has a 8 days to expiry. my bad!)
Related publications
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.