Today I finally pulled the plug on (PCLN) short.
WHY would I do it TODAY if there is only monthly sell setup and nothing else?
If nothing else – I was waiting for that price target for a long time – and the fact that exhaustion gap today coincided with my price target just reinforces my conviction.
I posted on Disqus and StockTweets around 2PM EDT my trade – long puts PCLN 800 strike Oct 13. Filled at the “bargain price” in the spread around 1.90 per contract.
UPDATED 11PM EDT AUGUST 9th
This is just a speculation indeed – but this is where I think /ES is going to be by AUGUST 19th