OPENING: GPRO OCT 21ST 13 SHORT PUTHere, I'm just trying to suck in a little bit of premium without being all in on the stock ... . (Filled for a .64 ($64)/contract credit).
As usual, I'm selling the strike nearest 30 delta.
I'm fine with getting assigned at 13 (after which I'd proceed to sell calls against), but would naturally prefer cheaper, so will keep an eye out for opportunities to roll down and out for credit and duration if I get a shot at it. Naturally, the Oct 21st expiry is around earnings, so that's something I'll have to keep in mind ... .
4GPRO trade ideas
GPRO, where the price will be in next 71 bars?After 7 months of stalking behind GPRO. based on my humble analysis and some trades in between, price has touched twice on the blue channel bottom/support.
Extending these two connected support upwards in parallel manner, to get that touch on the top at 110.
Thereby, my mid-term channel seems completed
On top of that, i thought i saw some cyclical pattern. And yes it is.
From the first trading day to the top, it took 71 bars (71 trading days to get price from bottom to top)
Even more amazingly, it took yet another 71 bars for the price to retrace back to around 46, with a double DOGGIEs at the bottom!
If this cycle of 71 bars to be repeat again, GPRO could be on the way to all time high..
but do your own analysis!