Thursday, April 7, 2016

Elliott Wave Options Signals - Exelon Corp. (EXC) Put Spread

Elliott Wave Options Signals - Exelon Corp.

Exelon Corp. shows a very weak pattern for wave (v) of ((i)) which is similar to an ending diagonal.  This type of pattern shows a tiring of the current trend and often results in a sharp reversal.  We see the start of that strong reversal with a clean five wave decline in wave (a), and it is now in a wave (b) rally phase before a sharp impulsive move lower gets underway for wave (c) of ((iii)).  Here was my trade from two days ago:

Buy to Open EXC May 20  32/35 Put Vertical @ $1.08.

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