This morning on the opening rejection of 4000, I dumped the calls I had taken yesterday and took puts. That was fun as we promptly began to ramp right over 4000 lol. But, as we remained under the 50-SMA, which is also crucial, I took a few more puts and waited. We got the drop, it looks impulsive (so far), and if it is, we may have completed (or be completing) 5-waves down:
If so, we may see a retracement for a “2” next week. I have sold half of the puts I took, rolled the others down in strike and further out in time, and I took a small number of calls for next week in case we move up in the green 2.
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