See first: Nailing a Downtrend: Planning and Trading Each Section. (substack.com)
It gives all the important context to understand the strike selection and reason to believe we’d see a strong down move if we break now.
I think this is forming a downtrend and puts speculating on lower lows will do well. In terms of really speculative bets on sharp decline (As is one over 10%) I feel we may be better to wait. If and when the break is made the conditions are prime for shorting call spreads but we might have a theta range before a real move.
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