[Buying Puts on AMZN/Buying ZQNMW/Limit $6.10]
Dear Member:
I am placing a limit order to buy Jan '05 $47.50 Puts (ZQNMW) on Amazon (AMZN) which completed a head and shoulders formation on Friday. The stock is currently trading at $46.74 and the initial target is $41.24. I will place my initial exit just above the neckline.
DISCLOSURE: At the time of publication, I did not have a position in the referenced options or the underlying stock.
Sincerely,
Bill Kraft
CutLoss, Inc.
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