VALE PUT OPTION and VOLUME storytellingVALE has a nice possible put play, but it needs confirmation to fulfill its potential. Wait for the open/confirmation/retest of 13.09 before committing to the buy put option.
Put Volume Total 4,738
Call Volume Total 997
Our target if the buy puts prevail, is inside the green box.
I'm just looking to get in and get out. Volatility is king in this unstable world economy, inflation and world conflict.
My strategy
- buy VALE $13 Put 10/20 0.22 then look for exits at;
*Target 1 - sell for 0.29 31.8% winner, and if it is moving further in my put direction, then
*Target 2 - sell for 0.38 72.7% Winner!!
Why Buy Put Option?
- All EMAs are upside down, adding hard resistance to any bullish move
- Stochastic has now turned bearish
- RSI is now flat
- Volume is showing Buy Puts are the play to make
NOTHING IS CERTAIN! This stock could find its footing on the GREEN 8 EMA and hold, requiring paytience to look for the direction
**Let's see what happens**
DISCLAIMER - I am not a professional trader. These are merely my thoughts and possible moves; i enjoy watching these stocks validate my process or slap me across the face lol. If you are in need of professional assistance with your trades, don't look here. I am not that guy.
