$OUT is an outdoor REIT ad company (billboards) that seems to have formed a bullish inverted H&S after retesting & bouncing off 61.8% retracement from June highs or $12.50.
I am looking for OUT to push up to the 50% retracement line of overall 2020 selloff at $19.25, providing $4 of upside on a $15.35 stock or 26% upside. December $17.50 calls had a large volume hit on Friday and are pricing in just less than 10% move at $1.60 premiums for breakeven price of $19.10. Normally I'd look for more upside but with the paper that hit I want to stay long $OUT.
I am looking for OUT to push up to the 50% retracement line of overall 2020 selloff at $19.25, providing $4 of upside on a $15.35 stock or 26% upside. December $17.50 calls had a large volume hit on Friday and are pricing in just less than 10% move at $1.60 premiums for breakeven price of $19.10. Normally I'd look for more upside but with the paper that hit I want to stay long $OUT.