Roll CMG Back to Jan. Overlay AMZN. Equal Gains OK with You?
Updated
Upfront disclosure - I've gotten wrapped up in CMG's ridiculous moves amidst non-stop promotion. Hate it!
In any event caught sweet 35 point CMG correction last time we did this week plus ago. CMG reversed off high today, and aggressive shorts should look for pullback. Ultra aggressive plays can use June 5 and June 12 puts. Last time I did this it pulled back withing 2 to 3 days so act fast. Premiums are fat but so is the last 60 plus point up-move.
Sounds really strange but it almost looks like it follows AMZN's short term bounces. go figure. BEWARE - stock buybacks shore up CMG very quickly IMHO. If I'm wrong by only 10pts against me i'm out.
In any event caught sweet 35 point CMG correction last time we did this week plus ago. CMG reversed off high today, and aggressive shorts should look for pullback. Ultra aggressive plays can use June 5 and June 12 puts. Last time I did this it pulled back withing 2 to 3 days so act fast. Premiums are fat but so is the last 60 plus point up-move.
Sounds really strange but it almost looks like it follows AMZN's short term bounces. go figure. BEWARE - stock buybacks shore up CMG very quickly IMHO. If I'm wrong by only 10pts against me i'm out.
Note
I got into this with CMG about even earlier today, but even though move can be fast, I think anyone hitting CMG down 10 can catch another 25 points. Do the amazon Comparison back to 2019. It's incredible how a restaurant stock can track AMZN like this IMO. Can't help thinking officers' bonuses tied to CMG upside..JEEEZ!Use the 2 hour or 4 hour to analyze a short - both work, I like the 4hour. I'll send these our when they seem doable - judge for your yourself...
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