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Today we are applying a Bear Put on AMP which has broken a triangle pattern.

Analysis:

AMP is trading at $2.14

AMP has been trading in a strong downtrend since its decimation in March last year following revelations of the Royal Commission. The strength of the downtrend has lessened, but AMP seems to not be out of the woods and continues to drift lower. Recently it came back to key resistance and the down trend line and bounced. It broke the short term counter trend and looks like it is ready to head lower.

We can use a Bear Put here as a way to utilise time decay in our favour. This is not a bad idea considering AMP can drift rather than move quickly. We can profit from the berarish movement, but also simply just being in the trade.