This is the first time we are trading this stock. I originally wanted to buy leap puts on this company but there weren’t any available, so I went with the April expiration chain. This should still give us enough time to capture a profit without having to worry too much about time erosion. I do not expect to hold on to this position very long. From the looks of the chart it seems like the stock wants to move back to the 20-day moving average. Once this happens, our goal is to close out of this position for a profit and move on to our next trade.
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