HOG - Upward channel breakdown trade from $53.33 to $40 area.

HOG was our presidential pick. It declined nicely from our entry of $62.13 and now in profit taking zone.
Now we are looking for a second opportunity here if it break below the upward channel. And we think it can go all the way down to $40 area.

To play this we would consider $55 May-17 puts, currently trading for $2.90/3.10

* Trade Criteria *
Date first found- February 2, 2017
Pattern/Why- Upward channel breakdown
Entry Target Criteria- Break of $53.33
Exit Target Criteria- $40
Stop Loss Criteria- N/A
Option: $55 May-17 Puts @ $3.10

(Note: Trade update is delayed here.)

Comentário:

Relevant Updates:
February 10th- Trading within the upward channel, not close to our entry price yet. Waiting for a breakdown.

Comentário:

February 16th- Showing weakness & declined nice 1.55%. But did not close break below Upper channel line. Yet to hit entry price.