WBA Apr 17'20 50 Put

At risk is $243, however, I will close this position if the value of the initial option ($241) goes below 50%. I am a trend trader at heart, getting into a position on a day when the market is selling off is leaving me vulnerable to a snapback in price. We all know, there are many traders who view the market selloff as a great buying opportunity, this current bull market has proven them right so far. The Corona Virus appears to be spreading to other countries outside of China sparking fears of a slowdown. I don't want to get bogged down in the news, as Mark Douglas taught, anything can happen, and I have proven to myself many times that my opinion of what should happen according to current events does not matter.

Have a great week!



  1. I'm going to hold onto WBA option position up to the underline price of 49.00 as my stop. My underline target is between 44-46, I can see a scenario wear 43-42 is tested before the end of March. I will more than likely close this position at the end of the month, hopefully with a decent profit.

    DJIA was down over 900 points today, it has clawed back to be down -313 or -1.16% as I type. In times of panic selling, the afternoon session will reveal who's really buying and selling. Perhaps a recovery by the end of the day, or an opportunity for big money to get out leaving the retail trader holding the bad hands?

    1. Biggest point drop in the DJIA in history! Biggest rebound in history on the horizon? My target for WBA is below 46 and then I will close my position, I don't want to hold on to a mega winner just to have to watch and sweat out a market rebound.


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