BUYING to enter at 4.65 or better (GTC) …last traded 4.66
Instead of a STOP order, I will be BUYING the July 4.60 put for 8 1/2 cents or better.
These put options expire on June 24th and you would be protected on any moves under 4.60 Also allowing us to give the market room to breathe over the next 30 days
If we catch a bounce, we will insert a stop at a later time and sell out of the put option.
If we don’t bounce and in turn sell-off over the next month, we will allow the put option to take us out of the long future at 4.60 on June 24th to offset.
Look for 4.80 and 4.95 as objectives
Initial margin for the future/put option is $713.00
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