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Some weakness in biotech today, it is pulling back to the 20 day moving average and previous resistance (potential support).
I’ve been early buying the dips in the past so I’m going to go half size here:
Sell to open IBB 250/245 bull put spread for 0.95
I’ll add another round of spreads at 1.35
If IBB loses 250 I will roll the entire spread down 10 points, and then get completely out if it loses 240.
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