ATVI Short Position
Updated
Anticipating a brief correction to $71 tomorrow, before another drop to pre-covid support levels. Short will trigger at $70.85.
ATVI is already overpriced, and I anticipate negative news coming out of China on Thursday during the NPS meeting, further accelerating a drop through the week.
Looking to short ATVI to the $66.50 area and re-evaluate.
ATVI is already overpriced, and I anticipate negative news coming out of China on Thursday during the NPS meeting, further accelerating a drop through the week.
Looking to short ATVI to the $66.50 area and re-evaluate.
Note
China gov't meeting is NPC not NPS.I'm expecting China to retaliate against US firms and markets amid delisting and Huawei news
Note
So far ATVI is trending up towards next fib level. Added several debit spreads at $66.5/$66 06/05 EXPTrade active
So I picked up a few more Puts today near the top today and made 160% on those (5/29 $68.50) just before close. Nice short term play to make up for underestimating the top yesterday! Still holding my original put spreads through tomorrow. New analysis:Trade active
I have two Bear put spreads active right now (market close 06/02):06/05 $66.5/$66 - Down -42 % currently
06/19 $71/70 - Up +18% currently
Will continue holding, likely the 06/05 contracts are a total loss.
Note
Likely we see another breakout to 75.50 if resistance is crossed.Note
If no retrace near the top of the channel I will look to close the 06/19 Bear put spreads by thursday 06/04.
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