I opened $SMH 20240802 250.0 PUT$  ,SMH: collect 0.6% premium from this SMH cash secured put. The strike was set at $250 which is around 0.2 delta and 8% lower than current market rate. The contract duration is 24 days. SMH formed a double top followed by a bearish engulfing candles on 20th June and once again on 11th July. Looking this as bearish signals so high could had been made and stock on the path of consolidation or reversal.
SMH PUT
07-16 22:06
US20240802 250.0
SidePriceRealized P&L
Sell
Open
1.58--
Closed
VanEck Semiconductor ETF
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  • Meroy
    ·07-17
    TOP
    Nice premium collection on SMH! Bearish signals indicate possible consolidation or reversal. [Great]
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    • Terra Incognita
      Seemed the bearish signals is forming nicely
      07-22
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  • huuou
    ·07-17
    Bearish signals [Sad]
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  • Pikaris
    ·07-18
    Wow aggressive
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    • Terra Incognita
      Life of a options premium collector 🤣
      07-22
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