VanEck Semiconductor ETF

Short

Topping pattern on SMH with MACD divergence down

Updated

Been away overseas for last month or so. back at my trading desk now. Topping pattern on SMH with MACD divergence down. Not huge clarity on double/triple top. grabbed Jan 24th expiration 137.5 and 140 puts at .35c and .56c

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Up 20% and 43% this morning, watching closely to cash out some of these

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taking a third of each off the table for 20 % and 52% gain

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well turns out we got 43% and 78% gain on the third sold

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holding 2/3rds of these still tomorrow morning if decline resumes we'll hold these

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sold remainder at .15c and .29c

Trade closed: stop reached

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