WLL is currently in a bearish channel, and has been below the 4 hour cloud for 2 or so weeks now. Yesterday it had a spike up from 4.17 to 4.5- no news or any changes have occurred. I decided to play the channel rotation and take a 4.5 Put and aim to cover around 4. I have my stop set for 4.5, which is the high of the last day, and seems to be good resistance. Covered me Monday. I set an order for what I described above. Price hit 4.25 today with a low of 4.23.