Conoco Phillips - Aug 2006 70 put and Barrick Gold Corp - Oct 2006 30 put
On July 13th I bought Conoco Phillips put option at 3.40 my bias is downtrend for this stock, as you can see on this chart there is a “hanging man”, also in several days the price was tried to penetrated the resistance at 69 and it couldn’t. I must cut my losses above 69, though.
My second trade for this week is Barrick Gold Corp put option at 2.10.
The chart was penetrated my upper Keltner channel convincingly although on the next day the price move higher but still did not penetrated resistance line, i hope it will goes lower in several days, my stop loss is at 31 or above.
RISK DISCLOSURE!
Options involve risk and are not suitable for all investors.
See the characteristics and risks of standardized options.
Risk only the money you can afford to lose.
