BOFI - We would consider $25 April-17 puts, Target $22.53

BOFI is a possible head & shoulder formation. It seems it has broken the pattern & $22.50 will be its target. To play this we would consider $25 April-17 puts

* Trade Criteria *
Date first found- April 4, 2017
Pattern/Why- H&S formation
Entry Target Criteria- $25 April Puts
Exit Target Criteria- $22.53
Stop Loss Criteria- N/A

Please check back for Trade updates. (Note: Trade update is little delayed here.)

Trade active:

April 5th- As discussed we considered our option entry in the morning. As it started the day a little higher from yesterday's close, the option entry was $0.90. However it declined throughout the day & $25 April option closed the day 44% higher at $1.30. Very nice gain in one-day.

Comment:

April 12th- BOFI- updating our stop loss criteria to $25.33