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This is a discussion on Equifax within the Futures & Options forums, part of the Markets category; Equifax Call$115 Nov Lets see. Anyone have opinion on Equifax?...

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Old Oct 3, 2017, 1:11pm   #1
Joined Aug 2017
Equifax

Equifax Call$115 Nov

Lets see.

Anyone have opinion on Equifax?
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Old Oct 3, 2017, 1:22pm   #2
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Stormy42 started this thread Anyone trading Equifax?
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Old Oct 4, 2017, 10:51am   #3
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Stormy42 started this thread Anyone?
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Old Oct 4, 2017, 11:50am   #4
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Originally Posted by Stormy42 View Post
Anyone?
What is the basis of your $115 call as it is an out of money? My read of the chart is that $115 will present major resistance as it was an area where previously large supply came in. I presume it was driven by some sort of negative news. There is no evidence that prices had bottomed out as I would look for at least a re-test or a higher low.

On an Elliot wave count, $115 appears to be a wave 4 area of a lower count which typically a corrective rally will re-test before resuming is down move trajectory. On a corrective bar count, yesterday was the 10th day of the rally. If it is a primary rally, it typically runs for 11 to 12 days before stalling.

Let's see what happens over the next two days if it gets near $115.
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Old Oct 4, 2017, 12:09pm   #5
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Originally Posted by Brumby View Post
What is the basis of your $115 call as it is an out of money? My read of the chart is that $115 will present major resistance as it was an area where previously large supply came in. I presume it was driven by some sort of negative news. There is no evidence that prices had bottomed out as I would look for at least a re-test or a higher low.

On an Elliot wave count, $115 appears to be a wave 4 area of a lower count which typically a corrective rally will re-test before resuming is down move trajectory. On a corrective bar count, yesterday was the 10th day of the rally. If it is a primary rally, it typically runs for 11 to 12 days before stalling.

Let's see what happens over the next two days if it gets near $115.
Yes i bought well out of the money. I believe that current price movement is just a bad reaction. I could of course be very wrong, don't think so though. Equifax will recover, no question. Lets see how quick!! The Greeks look good for this trade. Of course nothing is for sure
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Old Oct 4, 2017, 12:12pm   #6
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Stormy42 started this thread I have pretty large position. Only loss will be premium. Not very bothered to be honest. Been doing it too long to worry. Who knows! lets see.
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Old Oct 4, 2017, 12:15pm   #7
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Stormy42 started this thread Look at price action. I also trade pre and post market so see slightly more than others that only trade market hours.
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Old Oct 4, 2017, 12:21pm   #8
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Originally Posted by Stormy42 View Post
I believe that current price movement is just a bad reaction.
What is the basis of your "bad reaction" opinion? That $18 down move in one day was on big volume. Typically such moves are news driven.
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