$F Put from 2/08/2022

14 ก.พ. 2022

After Ford's earnings I came to the conclusion that it would begin to drop. My intended target was below 17; however, the market had other plans shooting it to 18 and so forth. Option expiry is this Friday and news continues to break between the potential war Ford is due for a correction. Based off the chart although poorly depicted we had a period of consolidation then broke out. Unable to sustain new highs it fell passed the yellow trend line and broke pass multiple gaps. It's possible to potentially bottoms out at 17.02 support but the corrective wave i'm seeing could take it lower since the second leg is typically the longest.