This is a pure technical chart play, inverse cup and handle (now becoming my favorite play!).
Previous lows Apx $27 mid December tapped again in the last week of March 2021. Currently forming the inverse handle to a gigantic cup, if she turns, I think she crashes $27 through $26 and below, so I think long puts are best here.
21 May 21 $26 PUTS at apx $0.42
Profit-taking starts probably the week of April 19~23 at 200%.
If the stock needs to reach higher before completing the handle, the extra expiration time will allow your trade some buffer to theta decay.
opcalc.com/sVD
Let me know what you think!
Previous lows Apx $27 mid December tapped again in the last week of March 2021. Currently forming the inverse handle to a gigantic cup, if she turns, I think she crashes $27 through $26 and below, so I think long puts are best here.
21 May 21 $26 PUTS at apx $0.42
Profit-taking starts probably the week of April 19~23 at 200%.
If the stock needs to reach higher before completing the handle, the extra expiration time will allow your trade some buffer to theta decay.
opcalc.com/sVD
Let me know what you think!
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