Technical 'buying ' on 5 waves correction completed, with 62 DB

1 Eki 2020

This looks too good to be true - or is it? Technical perfect with :
1. 5 waves correction
2. 62 % retraced from low to high this year
3. a double bottom with May low

So I got aggressive and sold a bull put spread for premium two weeks expires.

Sold 45 ( 4500 shares) contracts of American PUT strike 15.50 ......for 0.24
bought 14.50...........-0.07 for profit premium paid 0.17 ($765)

12 Eki 2020

İşlem elle kapatılmış

After it had been looking good, sitting in profit by the 11 OCT and well out of the money - there was a big down day yesterday of -4.0 % ( 0.60c) at one point in the day. As the strike price is 15.50 and it got as low as 15.85 in trading through the day I figured the risk of being exercised was too large by Thursday, and I got out of the short leg ( sold position) for a buy back of 0.06 c...after brokerage it was about breakeven.
As there is still 4 more credit spread positions open that look to finish in the BLACK I am not worried by 15 October.

21 Eki 2020

İşlem elle kapatılmış

In hinsight - I should not of got 'bounced' out of a good trade due to one scary down day !