Rolled for a credit again, found it's support on the monthly Ichimoku base line at 17.50.
Closed above the weekly Ichimoku cloud too, grabbed liquidity as it fell all the way to high 15s and ~16 at the 50 week and 100 week moving average.
Chart is looking bullish right now and primed for a breakout at 0.786 fib resistance at 19.92.
News of ACA extensions where the Democrats offered the deal of a simple one year extension of the ACA has been rejected by the Republicans as they want a reform on the ACA instead.
My take is that the market hates uncertainty and as time passes we're getting closer to a deal and with more clarity over time, the recent drawdown fueled by shorts will have to reverse at some point.
Still holding my positions and rolling my puts sold for more premiums.
| Side | Price | Filled | Realized P&L |
|---|---|---|
| Credit Close | -0.70 10 | -- Closed |
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- Merle Ted·11-14Healthy looking chart since the bottom in December 2022.LikeReport
- Wade Shaw·11-10How to adjust if 19.92 resistance holds firm?LikeReport
- Ron Anne·11-10Won’t ACA reform delays drag price back to 16s?LikeReport
- Phyllis Strachey·11-10ACA deal momentum will fuel OSCR’s 19.92 fib breakout!LikeReport
- Enid Bertha·11-14I keep optimistic, bounce bounceLikeReport
- KarenAldridge·11-08Sounds like a solid strategyLikeReport
- KSR·11-08👍1Report