Support / Resistance ๐๐:
Support: $435, $420, $412
Resistance: $449, $451, $456
Outlook ๐:
MU showed some weakness when market opens yesterday, falling even below the $422 support level. And it managed to recover from the huge drop.
Today once again, we might be visiting the $422 level. If MU managed to hold $422 again, it may rebound back to $430-$435, else watch for more weakness below $422.
Target ๐ฏ:
Sold this MU Cash Secure Put position yesterday when MU trading at around $435, with the view that MU will not go below $430 but it did anyway thus the timing I entered the position wasn't really good.
Held the position overnight as MU rebounded from $422 back up to $450. Decided to exit this position as I am satisfied with the profits locked in from this options swing trade.
Trade safe, Tiger friends! [666]
| Side | Price | Filled | Realized P&L |
|---|---|---|
| Buy Close | 8.00 1Lot(s) | +33.51% Closed |
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- FranklinMorleyยท01-31Great exit strategy! MU's volatility paid off. [ๅพๆ]1Report