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Sellingpressure

UBER earnings/lockup tradePosition entry UBER Nov15 31.5/30 vertical put before earnings (Nov4) and lockup expiration (Nov6). UBER has now found buying support around the $27 range as it has moved around half a percent throughout the trading day following the lockup. The support may signal an end to the selling pressure of the lockup expiration with the increased float (80%) of shares on the market. For such reason, I closed my position. As the selling pressure has decreased, UBER may rise in the next few weeks as retail and institutional traders enter long positions at these lower prices near the support.
NYSE:UBER
by Zacmando