Don't think I need to spell this one out. FB currently at the top of its ascending channel with a massive engulfing candle and some serious downside pressure. Previous moves to the bottom of the channel have often happened extremely rapidly (see the initial november move).
Personal strategy:
Use april puts to provide the most leverage on the initial move, but the time frame is not ideal for the entire movement. Roll the profits from this into May puts after the inevitable rebound off the initial move.
Comments
Shit
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May hit top of chanel again before earnings then break possibly .previouse break hit 3 times before the drop.