Is This Chart Set Up For Failure? "McDonald's"

First it's five day chart.

This might sound kind of strange to say but I don't really care what the news was that drove it's share price up yesterday. Here is how these two option series closed on the day and including today, these Put options have three trading days of life left in them.

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Now here we are 30 minutes into Wednesdays trading. As I am writing about Disney at this very same time in another blog I would say "get-out". Tommorow is another day.

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$1.27 to $1.80 and $2.33 to $3:27 is good enough on a mid week overnight, one hour into the trading session trade. That's the way I see it anyways. It doesn't matter what it closes at. There are other options to explore. *** A 10:45 a.m. check in. Playing the downside on stocks that have rallied on the previous day sometimes means you will see "kick-backs" on the following days decline. Here are how these Puts are trading at once again at 10:45 a.m.

Now this at the end of the day.

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Now it's five day chart.

Many other charts traded the same way today. Sometimes daytraders cash out when they get to second base when they could have gotten a home run. That's just the way it is. Not many traders were playing these Puts. Would I go back to playing the Calls now? No, its's best to approach something else with fresh eyes.