A negative article smacked PETS down over 40% in just a few weeks. Since then it has leveled off and seems to be close to squeezing some shorts out. Volume has NOT confirmed a move, but price action has hinted at one, with the highest close (and first over 8 ema) since the final meltdown on 8/23. This isn't my most confident play, but I love the gains from these bounces (See TEVA today...which I was playing weekly calls on the last 3 weeks, and failed to get one last friday for this week...smh).
Entry over 37.44 with big volume
Tight stop at 36.50
(always tight stops on these plays, OR, I usually just buy calls with the amount I'm willing to risk and let it go to zero)
Potential price target over $41
Entry over 37.44 with big volume
Tight stop at 36.50
(always tight stops on these plays, OR, I usually just buy calls with the amount I'm willing to risk and let it go to zero)
Potential price target over $41
Note
Entered OCT 20 calls with 45 strike. Paid .35, volume isn't strong, but I like the risk reward here for this to play out in the next month.Note
Up to .40 bid at close. Stock looking solid with increased volume. I like my chances to make 100% on my options this week, although it can take a month still and I'd be ok with that ;)Note
Worked day one, failed day two. Today was an impressive save from dropping so we'll see what comes of this. I'm holding my call to 0 if necessary, only have one.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.