Tuesday, March 29, 2016

Elliott Wave Options Signals - Black Hills Corp (BKH)

Elliott Wave Options Signals - Black Hills Corp (BKH)

Black Hills Corp. is in a wave (ii) within a larger bullish move.  More importantly, it is in wave c of wave (ii), which is an impulsive affair, and therefore should be quite sharp.  Using wave analysis comparing wave A to wave C, and Fibonacci retracements of wave (i), I see a confluence of support between $56 - $57, so my target will lie somewhere in that area.  I placed a put option vertical spread:

Buy to open May 20  55/60 Put


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