HYG Follow Up

If you were able to get HYG puts (no fill for me) the other day, I personally would be looking to take those profits now. Downside momentum for this leg seems to be done, I'm not saying HYG is done, but I'd rather take the gains and re-open a new position when it's ready, they should be substantial.

 HYG daily

The large intraday volume was the last straw for me, it looks like a mini-capitulation event and there's some lateral price action forming up, from here puts tend to lose their profits.

This 10 min chart is a pretty clear picture, HYG is FAR from strong, but it's a totally different dynamic dealing with options vs equities.