My Trade Details:

• V Mar 10 2023 220 Put near $3
• Stop: Close above $228
• Target 1: $216
• Target 2: $212

Here was my reasoning:

V had a modest reaction to earnings a few weeks ago, but nothing that was too convincing.  The stock has drifted lower in the last few sessions, and it has given up all of the move higher that it made following the earnings report.

With the low expected implied volatility for V, this makes an idea candidate for a big win even with a small move in the stock.

My plan is to wait for a little opening “pop” from the lows, maybe to the $223 area, and start to build a short position there with puts.

I will only start with a half-sized position and leave room to buy more in the next day or so.

If I am wrong, I will use a close above the $228 level as my stop on the trade.

If things go my way, I will look to take profits near the $216 level and possibly even $212 if it gets there.

Get ready for an exciting week ahead!

I am nimble and ready to get into trades really quickly right now.  I have a huge list of upcoming trades I want to make with my “Unlimited” members, so get ready for that if you are a member (if you aren’t – you should join now!).