We are buying some puts on ABT, Last alert on ABT had 115% profit
Buy, to open, ABT Jul 21 2023 $110 Puts @ $3.95 or better
If ABT reaches $100 by end of Jun, we can pocket more than 200% in gains.
In above chart you can see, ABT made a lower high recently and trending down.
Last week ABT closed right below its 10 day moving average (purple line) and today it is still trading below it, that indicates shorter term trend reversal.
If ABT continue to trade below 20 day MA next fews weeks, we can see this trend continues to the first support around $104 and we can pocket more than 100% and if it ends the month below $100 by end of June, the profit could be 200% or more.
Make sure to book profits, in case it quickly starts trending down. We have enough time on this trade.
Keep strict stop loss at which you are comfortable, as option trades are risky. Avoid holding on to your options into last two weeks of expiry.
Note: Please be mindful of position sizing. We do not suggest to put more than 5% of your portfolio in single trade or more than $1000 in single trade for larger accounts and $500 for smaller accounts.
We saw some massive moves in our top stock picks from April.
$IONQ is up more than 90% since alert
$SDGR is up 30% since alert
Note: Options can expire worthless. So you must be willing to risk 100% of what you put into trades. Don’t risk funds you cannot afford to lose.