Looks like a perfect Elliot wave forming on WRAP. Going long using the bottom line as a stop loss. Expecting a solid bounce back off the bottom and then finding new all time highs.
1/22 $5c
Breaking through long running support to find new lows. To build this position I am starting with a $7.50 put and adding at the $10 strike if it retests the line, stopping out if it breaks above with force, and adding more aggressively to the $7.50p if it accelerates lower. January expiration.
Considering the terrible earnings, regulatory pressure, and subsequent price drop across crypto assets, I am placing a 33/32 bear put on RIOT expiring 12/17. I am using the resistance line as a stop loss indicator, as anything can happen with Bitcoin. I place the trade after the second retest of 60,000, it bounced a little higher since but I expect continued...
I am using the bottom line of the channel as a stop loss, watching to see if it can hold above the 200 EMA and continue it's upwards trend. Jan 22 $270c @ $1.99
