I'm both satisfied and disappointed at the same time. I'm pleased we made a lower low and a lower high than yesterday but would have liked a bigger candle and a close near the bottom of the candle.
However, we did maintain our volume, Stochastics didn't become oversold, and the Bollinger bands are continuing to widen. So everything is going our way today.
We closed at 232.66, so our 240/235 Put Spread is completely in the money. If we can stay below 235, our spread will be worth the full $5 width at expiration on Friday.
But if we reach the higher target of 220 with Stochastics oversold and little time left to expiration, I might want to exit at the 220 target rather than waiting for the 210 target and risk an up day that could eat into our profits.
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