Was looking for a interim rally back to 20k or so, but the market is showing signs of exhaustion. Often we get an opportunity either on a pullback, or in the case a rally to enter or exit a position, but the market is not participating.
Failing to even retest the 20k level is further evidence of weakness and though it may take weeks to evolve, a good 10-15% pullback is warranted here.
So I am going to sell a couple ATM or slightly OTM Call options today as I continue to just nibble a little profit here and there and also hedge against my portfolio.
Stay tuned, I will update this post when I take the trade.
Failing to even retest the 20k level is further evidence of weakness and though it may take weeks to evolve, a good 10-15% pullback is warranted here.
So I am going to sell a couple ATM or slightly OTM Call options today as I continue to just nibble a little profit here and there and also hedge against my portfolio.
Stay tuned, I will update this post when I take the trade.
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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.