MACD divergences do they really work? The proof is in the pudding
Jul 05, 2019ADBE - Adobe, June 10 - 11 winner
ADBE June 10th this pattern on MACD has been diverging down for some time. The MACD divergence indicates price should be at $275. June 21 expiration 267.6 puts are at 3.10 we bought some June 11th early.
June 11, in at 3.15 and now already at 5.05 time to exit. Out at 5.50 for a nice 80 % gain in one hour can't complain about that. Further out of the money options yielded even more gains.
BP - British Petroleum, June 18 - 21 winner
Watched this one the other day and when prices kept falling even with divergence up in place we put it the watch list. Gapped up on June 19, bought June 21 40.5 calls at .65c for a quick run up only 3 days until expiration.
Out at .80 same day. If you'd stayed in for this mornings move ton June 20, he option hit 1.54. June 21 and if you're still in this for expiration today its at $2.17 more than 300% up. Further out of the money options yielded even more.
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