Oversold and crawled in this area for long time, ready to move foward.
Buy Vertical PUT Option spread on FAZ ATM ($55) 3 mth expiration to close at $40.
I have entered this as LONG - that is obviously referring to the market going long facilitating this trade which is SHORT on the FAZ 3 x ETF..
EBAY a break below 56
Put B/Options exp -End of mth
SHORT Targets 51.94 / 47.98 / 41.86
If QQQ drops below 12 mths average (now at 91.55), this has a good chance to play out. Sit tight.
Will this play out during earnings?
Below 12 mths MA. A sell signal for passive investors. Attempt to close above 12 months MA failed in the last 6 months
Huge call buyers in MTH guide us into a long position via options. This block trade in MTH represented volume over 10 times the average daily option volume in the name.