Terra_Incognita
10-08 18:12

$IBM 20261120 190.0 PUT$ IBM: 16 consecutive red candles!

And Premarket is down still. 

Setup short put position at $190 strike which is slightly below 23rd July bottom for potential supoort. 

Longer dated to 20th Nov to let it more time to run. 

Separately also sold another short put expiring on 18th Dec as well. 
IBM PUT
10-07 22:37
US20261120 190.0
SidePriceRealized P&L
Sell
Open
2.35+27.24%
Holding
IBM
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  • BruceBryant
    ·10-08 18:43
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    16 red candles can be exhaustion too lol, volume divergence matters more than the streak here
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    • Terra_Incognita: 
      Yea indeed.
      Strike is below 52 weeks low so it’s an accumulation zone I’m ok with.
      10-08 20:43
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