Some quick notes, and then the trades:
- Overnights were mixed. Some up some down. Perhaps a slight bias to the upside.
- 200/50-day moving average is Still down trending.
- 20/5 is up trending.
- Looks like a bearish harami today. So, perhaps down tomorrow. Need to see the rest of the day.
- w pattern, with perhaps an up trending flag at the moment.
- Looking at 2190/2200 and below 1500.
- Remember seasonal patterns, Nov to jan is usually an up trend. So thinking a little more aggressively on the VPUT.
- Christmas trade is around the corner. 🙂
Update 10:45 am: VPUT at 1490/1480 for 35 cents. VCALL 2180/2190 for 30 cents.
PS: I am thinking of adding some VPUT contracts at just below 1550. 1540/1530 for 50/60 cents, to take advantage of the Nov-Jan seasonal pattern.