I am going to suggest a Sept. 60 Put option on FRO. I will use today's (Friday) close to track the trade. The close was 4.70. Stop loss should be 50% on entry. Then use a profit target of 100% gain for exit. As a secondary rule if the trade is not profitable in 5 trading days, exit the trade. There is a short-term head and shoulders pattern forming after a bearish divergence top. Today the stock broke below the up trendline of the right shoulder.
Other options I would suggest are AKS Sept. 60 puts, TOL Sept. 20 puts, BNI Sept. 100 Puts, and ARG Sept. 55 calls. I will not track those on the blog, but if there is any further analysis or explanation anyone would like on these trades, please ask in the comment section.
Other open option trades are GLD put options, QQQQ call option, and TKC call option.
Pete
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