Calling the Top of EBAY.

Played $ebay to the short side today with options.

Play
Bought 34.5/33 Put Spread for .57

Reasoning

• Competition of Daily Elliot Wave 5 count inside of Weekly Elliot Wave 5.
  
• Held .786 Fib Extension of Wave 3 resistance.
  
• 50SMA was left in the dust. Looking for a convergence before continuation.
  

I will posting updates to the trade as I adjust my position.

Kommentera:

Sold back 34.5/33 Put Spread for .70.

I am now flat.

Trade stängt: målet nått:

Just hit .382 retracement. Successful call for pull back