Parabolic Short in GOOGL

[Steven Place]

Stock is up 6.4% in 5 days, not unheard of but is overbought on that kind of timeframe.

On the daily, the stock is coming into a congestion level from 6 months ago and is above it’s Bollinger Band.

Here’s the trade:

Sell to open HALF SIZE GOOGL Apr 610/615 bear call spread @0.80

ADD to the trade at 1.35

Out all at 0.30

[Steven Place]

The stock sold off and the spread value is back at 0.30

Buy to close GOOGL Apr 610/615 bear call spread at 0.30

If GOOGL breaks to 590 in short order I’ll look to reenter.

[Author]

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