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Smart Money Scores in $XLI
In our Smart Money Advantage Option Trading service that finds and analyzes big volume trades, we spotted an unusual order in $XLI. When we combined the order flow with the bearish outlook from the XLI chart we alerted our subscribers. Option traders jumped into the 28JUN 74 puts on May 28th, 2019 for about $1.89 […]
In our Smart Money Advantage Option Trading service that finds and analyzes big volume trades, we spotted an unusual order in $XLI.
When we combined the order flow with the bearish outlook from the XLI chart we alerted our subscribers.
Option traders jumped into the 28JUN 74 puts on May 28th, 2019 for about $1.89 with stock around $73.67. It was sitting just above the 200 day simple moving average at $73.63. Once this broke the ETF started getting hit and our long puts started to come alive!
Over the next three days the stock proceeded to go lower down to a low of $71.99. Our subscribers were able to lock in profits on $5-31 as the ETF closed at $72.05 and the option bid was $2.74. This resulted in a profit of about 45%.
