Let’s start with the chart of the day, CLX. Saturday I made my post on the best trade for the upcoming week and highlighted buying CLX 140/130 put spreads as Clorox was wildly overvalued. Of course monday it gapped up on Monkeypox headlines and gave everyone an even better entry than I highlighted. After hours yesterday it reported disastrous numbers but Clorox is only down 6% as I type this. The put spread was up significantly when I closed it just now. I could have held on one more day but why risk it, onto the next one. I wanna hear in the comments how you all fared with this short trade. Not much went down this week, I feel good about how this went although, selfishly I wish it went a little better. Look at the candle its forming today, that’s called a gravestone candle, of course its still early and could still reverse higher, for now, it looks like lights out for Clorox, Im heading out early today so Im typing this at 1 pm.
Today’s Unusual Options Activity & What Stood Out
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