Options Think Tank

[jimmenknee]

MU [NASD] Micron Technology Inc
Technology | Semiconductor- Memory Chips | USA

Worth keeping an eye on for retrace Puts (Jan 7.50P) IMO. Weaker Inverse Pincher setup (ADX not as severe as desired) but double-top set-up w/ a current tolerable Reward:Risk of 2.65:1 (assuming 6.06 tgt/6.90 stop)

Inverse Pincher (anticipating a retrace off of a run-up) Uses:
Trending: Inverse PPO (26,12,9) and ADX (14) for the Pincher
Momentum: Full STO (14,3) for drop thru Power Zone; TRIX for 3,3/7,3 Cross-under and thru signal line; Aroon (8) for Red/Green Crossover
Money/Volume: CMF 3/14 Cross-under and thru signal line; ChiOsc (Inverted Pairing: 3,10/10,3) for Red/Green Crossover (Money Flow Out)

Signals "tripped":
1. STO = No (but purple/red cross-under)
2. PPO/ADX = No
3. TRX 3/7 = No
4. CMF 3/14 = No (but CMF 3 dropping)
5. Aroon: No
6. ChiOsc = No

Put Options: ITM Jan 7.50P