I opened 1.0 unit(s)
$PANW VERTICAL 250228 PUT 170.0/PUT 165.0$ ,
In the daily chart, the price is above moving averages of 150 and 200, giving me a positive outlook. The recent low is at around $170. So, I decided to open a bull put spread, hence this trade. As long as price stays above $170, the trade is profitable.
Tentative earnings report date is on 25 Feb. Next week has FOMC announcement. I noted that william%R is at the overbought region which suggest price may come down. If price comes down, i think the moving averages may act as support levels. Let's see how this goes.
Happy trading 😁
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