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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!

Trin



Comments

  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?

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    Replies
    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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