[Buying Puts on Advanced Micro Devices (AMD)/Buying Apr 15 Puts (AMDPC)/Limit $1.60 for the day]
Dear Member,
With a bounce down off both price and trend resistance and a bearish engulfing candle on Friday, I am buying puts on Advanced Micro Devices (AMD). I am placing an order to buy the April 15 Puts (AMDPC) for a limit of $1.60. My initial exit will be contingent on the stock rising above 16.37.
DISCLOSURE: At the time of publication, I do own AMD stock and have sold the Nov 15 calls against the stock. I currently own no puts on AMD.
Sincerely,
Bill Kraft
CutLoss, Inc.
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