Closed the UPRO 68 PUTS around 3:45 this afternoon.
Difficult for me to get a read on ewave count with the gaps. For example, todays large gap down.
Here's what I see in the mud of a daily chart.
....after the gap this morning which doesn't really disclose the content of waves within, we had a bounce to the 1290s. FROM THERE just after ten a.m., we may be building a very narrow ED where just after 230 pm we had overlap of ed4 on ed1. Meaning we are meandering down now in ed5 of the fifth. That being the case, it seemed closing position is right move and await a larger corrective wave before re-entry, or maybe just do a slight shift into some July PUTS This presumes we got waves 5.1, 5.2, and 5.3 all in the gap followed by 5.4 up after the gap and then the 5.5ed down to the close.
Could end up to be very bad count and logic as I could make an argument for wave 5 having been over already and this gap down being 3.3.1 down. However, if that's true a 3.3.2 bounce will allow reentry on the PUT side. In the meantime, I opened a small UPRO Call position of Jun 64 calls for a bounce of some kind.
Plus, I wanted to shift to further out PUTs anyway, Junes are getting short.
Good weekend all......
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