Sold BNI Naked Put
Like yesterday, I don’t know what reminded me to give Burlington Northern Santa Fe Corp (BNI) another look. I don’t see it in my notes and seem to remember coming across it on my spreadsheet I use to track potential returns. I’ve traded on it before and on Sunday, June 1st, I entered a limit order to try it again. Everything changed for the chart today though. BNI gapped down below yesterday’s low at the open and went straight down after that coming very close to the 50 day moving average before finding some footing. The low from this morning also coincides with the longer trend line of higher lows that started in January of this year, nearly six months ago.
BNI has followed a strong trend line of higher lows since April and also used the 20 day moving average as support a few times. The 10 day moving average […]
Original post by Alex Fotopoulos