We have what seems to be an ascending ending wedge in Facebook. Ending wedges are usually deeply (but often not fully) retraced within roughly 1/3 of the time it took the wedge to form. I would look into beg.Sept puts, strike 110, close trade once price drops to 80.
This price action in FB is in line with what I expect for MSFT, GOOG as well - both of these also have a 15-20% decline potential.
This price action in FB is in line with what I expect for MSFT, GOOG as well - both of these also have a 15-20% decline potential.