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The MMs were buying the 14-strike straddle on $LYFT today and I suspect they are anticipating the end of an ABC correction at the 61.8% retracement of Wave 1 and the 161.8% extension of the length of Wave A placed at the Wave B high.
Shorts, buckle up buttercups before the ride!
The MMs were observed buying the 14-strike straddle on $LYFT, suggesting they anticipate the end of an ABC correction at key retracement and extension levels. Shorts should prepare for potential volatility ahead. PuppyTrades shared this insight on Twitter, highlighting the strategic move by market makers. Stay informed and follow PuppyTrades for more market analysis and trading tips. Don’t miss out on opportunities like this in the market. Stay ahead of the curve and make informed trading decisions. Follow PuppyTrades for more valuable insights and expert analysis. #trading #investing #marketanalysis #MMs #straddle #correction
The MMs were buying the 14-strike straddle on $LYFT today and I suspect they are anticipating the end of an ABC correction at the 61.8% retracement of Wave 1 and the 161.8% extension of the length of Wave A placed at the Wave B high.
Shorts, buckle up buttercups before the ride! pic.twitter.com/pYFsVVNHXT
RELATED STORIES— PuppyTrades (@puppy_trades) July 2, 2024
Related Story.
The world of stock trading can be an exciting and fast-paced environment, with traders constantly analyzing market trends and making predictions about the future movement of stocks. One recent development that has caught the attention of many traders is the buying of the 14-strike straddle on Lyft ($LYFT) by market makers.
Market makers, or MMs, are institutional traders who provide liquidity to the market by buying and selling securities. When MMs buy a straddle, it means they are purchasing both a call option and a put option with the same strike price and expiration date. This strategy is often used when traders believe that a stock is going to experience significant price movement in the near future but are unsure about the direction of the movement.
In the case of Lyft, traders have observed MMs buying the 14-strike straddle, indicating that they are anticipating a volatile move in the stock price. This move comes at a key technical level, with traders suspecting that the end of an ABC correction is near. The correction is expected to end at the 61.8% retracement of Wave 1 and the 161.8% extension of the length of Wave A, which is placed at the Wave B high.
For traders who are short on Lyft, this development serves as a warning to “buckle up buttercups” before the ride. The increased volatility in the stock price could lead to significant losses for those who are not prepared for the potential price swings.
It is important for traders to stay informed about market developments and trends in order to make informed decisions about their investments. Understanding the strategies used by institutional traders like market makers can provide valuable insights into market sentiment and potential future price movements.
In conclusion, the buying of the 14-strike straddle on Lyft by market makers indicates that a significant price movement may be on the horizon. Traders should be prepared for increased volatility in the stock price and take appropriate measures to protect their investments. By staying informed and aware of market trends, traders can navigate the ever-changing landscape of the stock market with confidence.
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