SPY broke down from an upward channel & seems approaching to channel support from beneath. We think it will be a very good shorting opportunity if it holds below the channel & reverse from there. And to trade that we would consider $235 Puts
$235 Put option
* Trade Criteria *
Date first found- April 11, 2017
Pattern/Why- Upward channel breakdown
Entry Target Criteria- Pullback to $23.50
Exit Target Criteria- $232.50
Stop Loss Criteria- N/A
Option- Short term $235 Put option (Speculative)
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