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- Why I like PYPL puts here
Afternoon Friends,
When it comes to LottoX, I am looking for short to medium term swing options trades during the week based off high conviction chart patterns.
A pattern like Taylor Swift changing from KC to Buffalo if the Bill stomp the Chiefs this coming Sunday, lets go!
While no chart pattern is 100% accurate, I am interested in PYPL puts here off a break DOWN of a key “Wedge” pattern on the daily chart.
PYPL was a pretty strong chart from November to the end of December. Then right at the turn of the year we saw PYPL fall below the bottom trendline around $60 and we hit $57s for the low.
Next, we saw a rally back up, so the trend actually went back to BULLISH! However, once again we see the share price dropping below the bottom black trend line and now approaching that $57s low again.
I think right now is a great time for me to look at some puts that are a few weeks out. I like to buy time when playing LottoX options and I like to buy basic calls or puts, nothing complicated for me.
What am I looking for?
I’ll be watching to see if PYPL pulls back to $57 and ideally breaks below here and tests $55s previous low from late November. I think if this happens I will have a shot at 30 to 50% gains on this trade idea.
Here is the chart showing the pattern and what I see on the daily chart.
Hopefully this email finds you well and hopefully you’ll check out my LottoX page right here. Maybe you’ll also appreciate this new direction of swing trade alerts and the wildly popular “0DTE” ideas every Thursday!
For more updates on short term options swing trades and updates on THIS very PYPL trade idea, click here.
Cheers
P.S. If you would like to see if you have any credits you can apply to any of my services, please reach out to Jeff Brown at [email protected] or call him at 800-585-4488.
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