This morning PYPL dropped to the target zone we talked about last week perfectly! The previous chart has been left with our expectations from last week. This way we can see the time is the elusive factor. This price action happened faster than we thought as shown by the waves 3 and 4 (black lines). Harmonics helps with price targets, but not time.
The (50) March 87.50 puts bought for $1.83 were sold for $3.15. Nice when Harmonics helps with target zones. Banking $6,750.
Lets let some of the volatility expire as we look for a buying opportunity. The earnings news pump in option prices before the announcement is still a bit rich for us. Lets watch the RSI for a good divergence near another low before we buy long again... So at this point I'm neutral .. patience
The (50) March 87.50 puts bought for $1.83 were sold for $3.15. Nice when Harmonics helps with target zones. Banking $6,750.
Lets let some of the volatility expire as we look for a buying opportunity. The earnings news pump in option prices before the announcement is still a bit rich for us. Lets watch the RSI for a good divergence near another low before we buy long again... So at this point I'm neutral .. patience