NIU puts are cheap right now and I'm thinking this run (along with many others) needs a break. However I am irresponsibly long in leap option calls for certain blue-chip tech/auto collaborations. Volume is slowly dropping and bearish divergence is seeming prime for some correction. This is a great candidate for me to use as a short term hedge against political uncertainty, hyper-inflated market, and weird retail pump/dumps that are having a negative affect on some of my portfolio. While the elephant in the room is Tesla, puts are incredibly expensive and fundamentally speaking I would rather bet against a Chinese electric scooter company. I believe betting against Tesla is pretty much hoping for the whole blue-chip market to crash, as we approach 1 trillion MC I will probably worry about just that. Until then, I will begin hedging my plays here and there to protect my short term earnings. Others to look at for above average pull backs include 
RIOT 
DIS 
SPCE $NIO.Trade active
Normally I would close out Puts that are up 400% on the day. Considering how frothy the market is I will hold onto these for good measure. So many bearish flags across all equities, just about everything is at the end of a good 3 wave impulse upwards. Overbought equities could come down 30% and I would still be bullish long term.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.