KORS has formed a short term too that should see the retailer drop to at least the $51.50 - $51.75 area before resuming its uptrend. I placed a put spread in for this trade and here are the details:
Sell May 50 Put
Buy May 55.5 Put
Limit price of $1.65 per contract
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PLEASE NOTE: THIS IS AN ELLIOTT WAVE BLOG EXPRESSING AN OPINION AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. TRADE AT YOUR OWN RISK.
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