Pr0diJ

FLGT - home COVID test kit Emergency Use coming

Long
NASDAQ:FLGT   FULGENT GENETICS INC
+ $FLGT pending Emergency Use for its Home COVID Test kit
+ COVID hospitalization and death at all time high
+ COVID expected to continue to surge through Jan-Feb
+ people reluctant to leave the house especially to hospital/COVID test loc . in fear of COVID
+ older people may have hard time leaving the house
+ more frequent tests needed for high risk jobs
+ short float 25.75% 14.23M shares

- vaccine news = decreasing max gains in the future

#tradeidea
+1 CALL Jan 15 $42.5
-3 PUT Jan 15 $40
+3 PUT Jan 15 $35

Enter on breakout confirmation of the wedge pattern.
Once price moves away, close the put spread.
Sell call after short squeeze.
Trade closed: target reached

Comments

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