Thursday, April 7, 2016

Elliott Wave Option Signals - Edison Intl. (EIX) Put Spread

Elliott Wave Option Signals - Edison Intl.

Edison International (EIX) is showing signs of a weak wave ((v)) of 5 of (3) and is now undergoing a pullback to the $66.72-$68.89 area.  This is the 23% and 38% Fibonacci retracement levels and is also the area of the previous fourth wave, wave ((iv)), so it's a good area to look to exit this short trade.  Here is my trade:

Buy to Open EIX May 20  65/72 Put Vertical @$2.74

Please support the blog and like this post :-)


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.

No comments:

StatCounter