Technical 'buying ' on 5 waves correction completed, with 62 DBThis 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 stri
No news here
Looks like there's nothing to report right now
Neutral to bullish - bull put spread ( net credit)
Options trade - Bull Put Spread
technical - seems like a two legged correction in a weak bullish trend of equal amounts has indicated a pause in price ;
The at the money put at 16.50 is sold for credit for Aug 20th expirey;
The out of money put at 15.50 is bought for debit
net credit $1000
scena
Turtle soup new 20 day low- and ABC correction
There is a technical termination of C wave in textbook correction,
so to be neutral to bullish seems a better than 50% chance.
Using time-decay last 14 days of Bull Put spread;
short 16.00 Jul 15 strike / long 15.50 Jul - for net credit payment of +$639 for 2 weeks wait....
Just needs to expire
$ORI horizontal base breakout on back of min services strengthHorizontal base break to new 52week highs.
Actionable here with a stop Loss below recent conslidation.
ALong

$ORI under accumulationOrica has been a poor performer compared to the XJO but the recent strength (SOS) as it tries to come out of its trading range shows the potential of being accumulated. Watch for volume when/if it breaks above the most recent high at $21.21.
ALong

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Displays a symbol's price movements over previous years to identify recurring trends.