GME: Long Puts from 270-295
Well here we go again, I am back to spin the roulette meal that is GameStop. Full disclaimer, I have gotten lucky on this ticker… and made money for all the wrong reasons. also lost money for… The right reasons?
Anyway, I will be playing this one again despite my hesitancy, as I feel a really incredible opportunity for an options play could present it self here soon. I will admit that I have doubted the game stop journey from day one, and genuinely did not believe we would ever see these prices again, yet here we are, and that presents an opportunity!
I’ll plan to buy OTM puts when if the price enters the zone on the chart (270 to 295). I really can’t give a tighter range because… Well this is GameStop after all, so my entry within that zone will really depend on the price action I am seeing. My strike will be around 195, expiration 04June2021 (cannot be totally sure so I will update if/when I open the position.
I was just my personal strategy, and not intended to be trading advice.
Good luck out there!
- Joe
Anyway, I will be playing this one again despite my hesitancy, as I feel a really incredible opportunity for an options play could present it self here soon. I will admit that I have doubted the game stop journey from day one, and genuinely did not believe we would ever see these prices again, yet here we are, and that presents an opportunity!
I’ll plan to buy OTM puts when if the price enters the zone on the chart (270 to 295). I really can’t give a tighter range because… Well this is GameStop after all, so my entry within that zone will really depend on the price action I am seeing. My strike will be around 195, expiration 04June2021 (cannot be totally sure so I will update if/when I open the position.
I was just my personal strategy, and not intended to be trading advice.
Good luck out there!
- Joe
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