"Facebook can't go lower"

Last Thursday at lunch when I checked my phone I had 3 messages from people asking me if I was buying Facebook. Across my social media I saw much of the same chatter, "Facebook can't go lower."

Be careful saying things like that.

The reality is the price of Facebook META has broken key Weekly Supports and could likely continue down to find new ones. I would also highly recommend against trying to buy Calls (especially short dated) because the Implied Volatility remains elevated (over 97% IV Percentile) meaning options will likely slowly crush in value.

Broadly the market is up today across growth and tech... and Facebook is not. Trade wisely.