FXI near bottom of range.
Will look at tomorrow's price action in the morning to determine if I want to get in.
If it stays around the 38.8 level, I am looking to get in.
If it goes up, I may decide to sit this one one.
If it drops a large percentage, I think I will still go in and bet it is an over reaction, but go in with strikes further out of the money.
Once I'm in, if it continues to go down, I will hold until 2 weeks left. Unless it drops, recovers, and shows weakness in breaking back up above 38.8. Then I will switch sides and place a call spread
I will exit w/ 50% profit.
Will look at tomorrow's price action in the morning to determine if I want to get in.
If it stays around the 38.8 level, I am looking to get in.
If it goes up, I may decide to sit this one one.
If it drops a large percentage, I think I will still go in and bet it is an over reaction, but go in with strikes further out of the money.
Once I'm in, if it continues to go down, I will hold until 2 weeks left. Unless it drops, recovers, and shows weakness in breaking back up above 38.8. Then I will switch sides and place a call spread
I will exit w/ 50% profit.