We are going to double down on SCMP

Friday I saw that SCMP could roar up, but I thought it would pull back first. Seeing that I wasnt too sure, I only committed to half my normal buy in, with a half in half priced put. (A put that I buy with only half the money I usually use). Today I see this on the chart:

First, this is a suicide climb that is caused by momentum players. 9 out of 10 times these climbs collapse. Second of all, today was a red candle, with no gap up like yesterdays candle from its previous days, I see slowdown. So I am going to gamble and double down on the same puts. Here is my in:

Note the last price was from earlier today when the stock was higher. We get in between the bid and the ask and in this case it is 1.80.

Tradinginsider