$META it was fun while it lasted. Sub $300 coming soon.NASDAQ:META had a good run, but now that run is coming to an end.
I started buying puts today when price was at $524. I bought 6/21 $300P. There's a chance price could break the current highs, but it wouldn't change my bias.
I think starting later this month, we're going to start to see a large move down in META.
Overall, I think there's a possibility that price goes down below where it was in 2022 at the $78 level for a final bottom. I think it's also possible that it could play out this year.
All that said, let's take things week by week from here. I'll probably buy some lottery tickets that expire end of year just incase the most bearish scenario plays out.
Good luck to bulls from here on out. It's not going to be pretty.
