Long GE Strangle 6/19Look for GE to touch it's $6 support again before making another run up. I recently said GE would bounce off of that support because it is such a strong support. It hasn't broke ~$6 in 28 years. Yes, GE laid off of 50% of aviation today, but they are freeing up their balance sheet. They recently freed up $20 billion in sale. GE moves with the market so anything can happen, but I don't see them falling past $6.
I'm running a long strangle.
26 6/19 $10 calls @ .15
21 6/19 $4 puts @ .18
Closing out the short leg when GE gets around $6 and then riding the calls back up.
Thanks for reading.
