Short
PLTR short updated, parabolas dont last forever
PLTR I have been waiting for this trade for a while now. 40$ is a great psychological level, the stock is tremendously overvalued whether youre a fan or not. I personally do not like the company nor do I generally trade it. Much like my TSLA short I just did that played out nicely here we are again on an overheated cult stock rising into resistance and an important fib. I have started to enter an aggressive November 32$ strike put position. The stock is riding the top of the bollinger bands, it has run away from all the EMAs and from the already aggressive trend (teal). I think we at least revisit this weekly demand zone. We should print a rejection candle next week but maybe the market just continues this insanity higher.
My plan is to continue adding 32$ puts if we dont see this happen Monday. I will then add spreads likely December 35s for a little safer ride. I expect at least a 20% correction here maybe closer to 25%.
My plan is to continue adding 32$ puts if we dont see this happen Monday. I will then add spreads likely December 35s for a little safer ride. I expect at least a 20% correction here maybe closer to 25%.
Trade closed manually
took a 50% loss on this small position
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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.