Berkshire Hathaway Triple Witching expires today

Berkshire Hathaway (BRK.B) 12/17 Triple Witching contracts expire today. BRK.B is at all-time highs sitting at a major resistance level. On December 3rd it hit a low of $275.27 and then it has been on a bull run since. This analysis is a contrarian idea that's opposite of the recent price action, based on patterns from the previous four Triple Witching expiration dates 12/18, 3/19, 6/18, 9/17. Now obviously, from the net volume inflow since December 3rd, institutional investors rotated into (value) BRK.B as a capital safe haven from the Omicron market volatility, Triple Witching expiry and FOMC meeting. Is there going to be a net volume outflow today?

Q3 September 2021
EPS = $2.87
Revenue = $70.6B
P/E = 7.887

price levels on the 1day chart
SMA200 = $278.83
SMA150 = $283.25
SMA100 = $283.25
SMA50 = $285.10

Trend channel
R3 = $301.32
R2 = $295.79
R1 = $290.26
pivot = $284.36
S1 = $278.83
S2 = $272.93
S3 = $267.40

Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...

*3x lucky 7s of trading*

7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet

7 Common mistakes:
+5% portfolio trades, capital risk management
Beware of analyst's motives
Emotions & Opinions
FOMO : bad timing
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation

7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big, organized desk
Reading books, playing chess
Sorted watch-list

Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
TTC - trend channel
AlertiT - notification
tradingview.com/u/growerik/

Note

Now today is a confirmed breakout well past $300, plus clearly brk.b is being used as a capital safe haven today.

Trade closed manually

Sold my BRK.B otm 1/14 expiry strangle for profit at 10:30am on another leg up to the upside 2nd day in a row. BRK.B trading pattern seems to move 930-1030am, then sideways for the rest of the day. Looks like institutional investors are chosing BRK.B as a capital safe haven considering it's super low P/E of 8.26 so thank goodness my position was delta neutral, because my opinion was a downside move from yesterday's high. lol.

Trade active

I am planning a potential itm calendar strangle for the future depending on what I see. Probably $5 strike spread, both call & put in the money, so it's intrinsic value can easily be rolled for time if need be.

Options360

Trading indicators:
tradingview.com/u/Options360/

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Options360

Trading indicators:
tradingview.com/u/Options360/