New Trade Idea

[OP Note: This Editorial Was Drafted by a Human.]

Hi Shoppers,

Affirm Holdings (AFRM) has once again traded to the top of my pitchfork and honored that resistance rolling lower:

Monday’s action created a dark cloud cover candle which is signaling a change in this uptrend.

Now we need to clear the most recent lows at $78 to take the next leg down to $74.02.

Once you see the stock consistently trade below $78, check out the 77 puts that expire on October 23rd. They are fairly priced and will be worth double with the stock down at $74.

Use a close back above that $78 level as your stop loss.

Remember, you must always have a trade plan in place before you even enter that trade.

Thank You For Reading… See You Next Tuesday,

Licia Leslie

Licia Leslie

Licia Leslie

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About the Author

Licia Leslie

Licia Leslie

Former CBOE floor trader and CIO at Karman Line Capital. Author of ‘The Option Traders Hedge Fund’ with over 30 years of options trading experience.

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