KR SHORT IDEA
Updated
KRKR made a big move this week after the Q2 earnings call. I believe that it is now overextended.
On the 15-minute chart, the big price action is seen. However, the RSI indicator shows a flat relative
strength suggestive of bearish divergence. The Mass Index peaked out over 27.5 and is now dropped
below is the suggested trigger for a reversal of 26.5 Trading volume is about 250% of the average
on Friday overall while concentrated on the early morning rapid trend reversal and late afternoon
profit taking. I will look to capitalize on a quick downtrend correction with a put option with
5DTE below the current market price for maximal return albeit with the added risk of time decay.
Trade active
Partial Profit taken with over 40% return on call option as price dropped over 5%augmented by the general market pullback. Will close the trade Friday mid morning.
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