10/21/2019 - $CMG - Potential Spread Play Tomorrow

$CMG is another good candidate for a spread play going into earnings tomorrow. At the moment, it is hitting mid-term resistance around $852 - 857, with potential wiggle room to the upside going north of $900. The downside potential; however, is far greater ranging from $807 to $779. Will reassess this tomorrow depending on the IV and Theta for a spread play.


NOTE: In this type of setup, i would normally be long given the ascending triangle and the bullish trend - but i wouldn't jump to conclusions too fast too soon, esp. during earnings.

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