XLE Swing Discussion

thinkortrap
thinkortrap

I got short XLE via put spread about a week ago on the break lower of 64.80, i highlighted the area i shorted on chart.
My intial targrt was last month low at 63.30's howver going to a weekly chart this thing COULD possibly break lower to the 60's area.

What do you guys think

Comments

  • JoshWinter
    JoshWinter
    Posts: 275

    Nice charts and explanation @thinkortrap. I am currently long XLE with call spreads that clearly are not working out so far. But with options you have duration, so time is always on your side to usually get out of loser at a better price. I was seeing if XLE was going to break that down-trend line but so far its failing. I would wait to go short as it may have a squeeze higher, but it all depends on your size and your hold time and outlook.

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