First this only is relevant (for me) to the March MCP $5 calls which I decided to leave open yesterday, the MCP equity long will stay open.
I may close the calls if the charts go negative intraday, so far they are strong, but a bit too parabolic.
Compare the Market Averages intraday charts to MCP...
QQQ intraday going negative
IWM already negative
SPY intraday negative
MCP intraday perfectly in line, but price is a bit parabolic so far.
The 3 min chart looks good so I'd probably need to see 1-3 min go negative before I'd close the March Puts and feel pretty convinced that it's going to pullback.
For now it's something to keep an eye on with a pretty decent gain there.
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