By the close today we were below the 8ema and back inside the triangle consolidation. This could be considered a failure of the breakout or just a deeper check back before continuing higher.
If there was more value in our position I would have closed it out and watched for a possible reversal. But, unfortunately, we only have $0.12 of value left in the option. That being the case, I think the better decision is to hold the position and see if we get a bounce back up next week.
I think we're fully baked on this trade, but it doesn't make sense to sell now, with so little value, and it expires next Friday on the 20th. We'll have to ride it out.
If it keeps going against us, I may not post anymore updates until expiration.
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