We have a new Hot Money Trade that hit our system.
Our Hot Money monitor triggered a bearish alert in Pfizer Inc. (PFE).
The last few days I've been seeing OTM put buying and calls being sold. This change in order flow would indicate a bearish bias and could see a pullback.
Here's what I'm doing…
Buy-to-open the PFE Dec. 17, 2021, $50 put
At last glance, this is trading at $0.68 per contract.
I'll average into my position today and tomorrow morning and taking profits on the puts at $49.47, $48 and then $46.
My price targets will be $49.47, $48 and then $46.
Let’s manage our risk before entry and I’ll keep you updated every step of the way.