Short
$DISH LT Head & Shoulders - Unusual Options Activity
Updated
DISH Dish Network Corp -Possible long term head and shoulders formation on weekly chart. Based on Fibonacci levels, long term target $14.50 by July 2019.
Bearish unusual options activity today -
- 5.4k $22.50 strike (OTM) Jan'2020 puts traded today for total premium of 2.5M against OI of 2,685 contracts.
- 13.3k $17.50 strike (OTM) Jun'2019 puts traded today for total premium of 2.1M against OI of only 874 contracts.
Note: Informational analysis, not investment advice.
Note
If both these options trades were made by the same party, it’s possible it was a long diagonal calendar put spread...selling the deeper OTM Jun’19 puts to almost fully finance the purchase of the nearer strike Jan’20 puts.
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