"Facebook can't go lower"

Last Thursday at lunch when I checked my phone I had 3 messages from people asking me if I was buying Facebook. Across my social media I saw much of the same chatter, "Facebook can't go lower."

Be careful saying things like that.

The reality is the price of Facebook $NASDAQ:FB has broken key Weekly Supports and could likely continue down to find new ones. I would also highly recommend against trying to buy Calls (especially short dated) because the Implied Volatility remains elevated (over 97% IV Percentile) meaning options will likely slowly crush in value.

Broadly the market is up today across growth and tech... and Facebook is not. Trade wisely.