HYG is currently below its 200 day moving average. It has head and shoulders patterns to $79.51 and $71.01. A break above $96.31 will null both patterns. It also has an inverted head an shoulders pattern to $94.06(a break below $86.12 nulls), which will be a test of the 200 day moving average, and will be used as an entry point for a short position and put options.
Use one or more of the following, depending on your risk tolerance.
-If price hits $93.97 sell to open, with a stop loss above $97.11 (-3.34%). If $86.11 is hit before $93.97, this trade will be cancelled.
-If price hits $93.97 buy Jan 16 $80 Puts.
As of 2/2/15 Bid: 2.50 / Ask: 2.90 / Last 2.20
-If price hits $93.97 buy Jan 17 $70 Puts
As of 2/2/15 Bid:1.85 / Ask: 2.95 / Last 2.40
Scale-out, trailstop, or set orders to sell when price reaches $79.52, and $71.02
Updated 2/2/15
Constantly Updated
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