Hey,
In my opinion, one of the most valuable skills a trader can strive towards is the ability to nail both the upside and the downside of a chart.
I hear some traders say they 'only buy puts on this stock' or 'only buy calls on that stock' … but this is a dead wrong approach.
You've gotta be nimble, ready to strike on both sides of the momentum cycle.
If you can time the rally by buying calls early and selling them into strength, then follow through by buying puts near the blow-off top — that's a nearly perfect trade.
And the inverse play can be just as profitable…
If you can buy puts near the top of a run, then profit off of a bounce at a near-term bottom, you can make a fortune.
The latter is exactly what I was attempting to do over the weekend with the ProShares Bitcoin Strategy ETF (NYSEARCA: BITO) by buying 6/30/2022 $14 Calls.
After turning less than $50,000 into $280,000+ on BITO puts last week, I'm now making an over-the-weekend bet on a near-term bullish reversal to $14+.
In other words, I'm playing both sides of the chart. Click below and I'll show you how you can do the same in your trading…
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