MHCI (China) finally a pullback

Oct 8

I was able to enter this position again on the rather hefty pullback. I went with Jan 60$ strikes for this to limit my downside. I am fine with holding a very volatile position. For those who hate that volatility, buying straight shares is definitely viable, my PT is still 69$. We could see a pullback as far as 47$ but I dont like to wait on momentum plays. If we see TSLA or PLTR blow up this week people will look to buy decimated corrections on other sectors. Do remember the prior elevated stochastic RSI lasted 13 weeks.