VXX short using weekly put option

Fundamental Analysis

Taking advantage of the recent volatility tracked by the VIX, and using VXX ETF for exposure to the VIX Future.
Recently the market is poised to move into bearish territory with rampant inflation and the Feds hands tied in making monetary changes swiftly.

Technical Analysis
Chart is forming a double-top pattern in the making.
MACD cross of May 10th approaching zero level.
Stochastics approaching 20 level.
Chart forming a wedge pattern hovering around 38% retracement.
RSI hovering around 50 level and below 14-day SMA. Awaiting further confirmation

Looks like a 40% chance at the moment of this publish for the short to succeed.
Using stop-loss to manage risk.