Triple_Barrel_Capital

$FB Facebook - Head & Shoulders, Bearish Options Activity

Short
NASDAQ:FB   FACEBOOK INC
$FB Facebook - Not the cleanest looking Head & Shoulders and this would definitely be a risky short, but I could see this closing the gap from July 31st at $235.00 in the near term. Given the current trajectory of the 200d ema line, that would likely provide additional support at that level to prevent any further decline.

Bearish Unusual Options Activity Today:
$13.4M of $280.00 strike (deep ITM ) December'20 puts traded today

Near term target: $235.00 by early November



Note: This is NOT investment advice.

Comments

$2.40 would be a more sensible valuation for this pile of junk
+8 Reply
Amazing work.
+2 Reply
I'm a bit confused. So you're predicting that FB will go down hitting $235 by early November? Therefore a PUT option that expires in Nov?
+1 Reply
@k8c Yes to your first question. Not sure what you’re asking with second question.

If you’re asking...do I recommend you buy a put option that expires in November...I’m not giving any kind of investment advice. You’ll have to decide that on your own.
Reply
I'm going to offer a contrarian view here.

I'm going to say that it's going to hit the 50MA and bounce back.
+1 Reply
@BW11 Definitely possible. Maybe it will depend on what the overall market is doing, and if another stimulus is passed soon.
Reply
great find. thanks
+1 Reply
lets go !
+1 Reply
good work
+1 Reply
When the head and shoulders pattern is completed and there is a crossover in the moving average, it will move towards the downside
+1 Reply
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