Here's how one trader is hedging against selling pressure in the market (via TradingNation)
after the tech giant said the coronavirus outbreak would likely depress revenue.
Gordon also points out that a "cup and handle pattern" is forming again in the chart of TLT. That is a sign that TLT is set to move higher, based on the ETF's previous move. Gordon wants to buy the March 27 weekly 145-strike calls and pair those with the sale of the March 27 weekly 150.5-strike calls for a total of around $1.92 debit.
This means that should TLT close below $145 on March 27 expiration, then Gordon would lose the $192 he paid for the trade. But if TLT closes above $150.50, then Gordon could make up to $358 on the trade.
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