$TLT Trading For A Decline

I entered the $TLT $109 puts at $.36 today - they closed the session at $.26.   A nice loss so far - but its a trade I am willing to ride out until Friday.  I think the next few days we will see a modest pull back that will bring $TLT to the $108 level making the put options I bought worth over 100% from my purchase price.



$TLT has been confined in an ascending channel and I like the odds for a reversal back below $108 in the short term.  This will also coincide with a rally for stocks, sending the $SPY back over the $186 level.


Known to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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