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.)
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Relevant Updates: February 10th- Trading within the upward channel, not close to our entry price yet. Waiting for a breakdown.
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February 16th- Showing weakness & declined nice 1.55%. But did not close break below Upper channel line. Yet to hit entry price.