Naked PUT for $TME crash with 87% Probability of Profit

My tasty pick for yesterday: Tencenrt Muc Entertainment big crash.

(1) Prev. support holds
(2) Fibo resistance at fast fall holds

Max profit: $120
Probability of Profit: 87%
Profit Target relative to my Buying Power: 31%
Max loss with my risk management: ~$150


Req. Buy Power: $380 (max loss without management at expiry, no way to let this happen!)
Tasty IVR: 104 (ultra high)
Expiry: 56 days


Sell 2 TME May21' 15 Put

Short put option for 0.6 cr each.


Stop/my risk management: Closing immediately if daily candle is closing BELOW the box, max loss in my calculations in this case could be 150$. Probability of loss in this way: ~7% (!!!)

Take profit strategy: 60% of max.profit in this case with auto sell order at 0.24db. Probability of profit this way: ~85%.

Of course I'll not wait until expiry in any case!

If you liked this article, check my other ideas.

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Trade active:

IVR mutch higher that yesterday. (now 126)
Added one more for 1.41cr.

Now the target for all is 0.44db (50% profit target)

Trade closed: target reached:

Trade closed with nice (20%) profit at 0.6db

Comment:

Trade closed in 3 days.