The breach of a midpoint support at 43.94 implies TBT is about to fall to at least 41.13, the support’s ‘D’ sibling. Let’s be ready to bottom-fish there with a bid for two June 43 calls (TBTFQ). The options should be selling for around 1.60, but I’d suggest using whatever bid is reflected by the market makers if and when this vehicle first touches 41.18 on the way down.
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