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AtitPatel
May 26, 2020 4:30 PM

Weekly Naked Puts for XLK Short

SPDR Select Sector Fund - TechnologyArca

Description

MACD shows the loss of momentum for the uptrend at the key resistance level, with an additional confirmation of divergence on the stochastic.
I assume market could be going south from here.

The concern for the trade is EMA(15) might act as a support. That's a factor that adds to the risk of this trade.

Trade closed manually

Exercising Buyer right and closing the trade for the profit of $69 per contract
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