Price action continues to help in my Options Trading for PINS
- As shared previously, PINS has been in a consistent channel for many months
- The latest "bottom" was in line with the bottom of the buy channel at 23 <== Sold puts (long position)
- Held the puts diligently for some weeks, and now it is at the top of the resistance of the channel <== sold calls (shorts) at the peak of 28 last night
- Also transacted options at the structural levels of 25 and 27
- But generally, price action has guided quite well
- If it breaks out of channel, then i will make a call to cut either legs (puts or calls)
Just sharing on how / why I view PA as importance in my options journey.
@CaptainTiger @Deposit @LMSunshine @melson @BadgeLeh @TigerStars
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