Add CTRP Puts
Playing a Valuation Drop
PLAY: Buy the CTRP February 75 Puts (QCT NO) at or under $5.50, good for the day. Place a protective stop limit at $3.10 and a pre-determined sniper sell at $7.50.
Dear Bottarelli Research Member,
Following up on my comments from earlier today, the devaluation in the online travel sector continues to gain strength. Looking at the CTRP chart, the stock continues to set lower highs, which indicates that more downside could be on the horizon.
Plus, if the helium is indeed coming out of the online travel industry, then we could have the opportunity for a nice put-play winner. Since CTRP has just moved below today’s low of the day, this offers us the signal that more weakness is ahead. Let’s ride this downside using February puts. Here’s the play…
PLAY: Buy the CTRP February 75 Puts (QCT NO) at or under $5.50, good for the day. Place a protective stop limit at $3.10 and a pre-determined sniper sell at $7.50.
MON UPDATE: If you’re still holding the second half of your MON strangle, now would be a good time to exit your calls and hold your puts.
And as always…
Lock and load!
Sincerely,
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