Evening Jermaynew, long time no speak.
BHP chart shows it could struggle in the short term.
You want a good put option, but really a better play would be a covered call, in my opinion of course.
BHP has next support at $34. This is the last previous bounce point and the fibonacci 38.2% retracement level.
If that were to fail, then you get support at $29 - which is the 50% fibonacci retracement and also the region of the longer term up sloping trendline.
If you were to write say a dec $40 call option, you would receive around $1-85 per share based on todays last trade.
I dont know your entry price, but if you were exercised, you would in fact be selling your shares for $40 + $1.85 =$41.85.
If you are not exercised then you make $1-85 per share, and can simply write another covered call if you wish.
There is some pretty serious overhead resistance at $42 on the chart, so this strategy would probably see you retain your shares, or at least part with them at the best shorter term price I believe.
Good luck, hope this helps.
Cheers
Commy
Daily Chart looks like this, sorry the chart is zoomed out to show long term trend line.![]()
Weekly Chart looks like this
- Forums
- ASX - By Stock
- BHP
- bhp to 25
bhp to 25, page-13
-
- There are more pages in this discussion • 18 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add BHP (ASX) to my watchlist
|
|||||
Last
$42.10 |
Change
0.910(2.21%) |
Mkt cap ! $213.5B |
Open | High | Low | Value | Volume |
$41.88 | $42.29 | $41.69 | $360.3M | 8.529M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 9922 | $42.09 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$42.12 | 11345 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 178 | 42.090 |
1 | 150 | 42.080 |
1 | 474 | 42.050 |
1 | 505 | 42.030 |
17 | 4004 | 42.000 |
Price($) | Vol. | No. |
---|---|---|
42.160 | 1000 | 1 |
42.180 | 298 | 1 |
42.200 | 1000 | 1 |
42.220 | 100 | 1 |
42.230 | 168 | 1 |
Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
Featured News
BHP (ASX) Chart |