Looking like a failed H+S. I use fib so looking for target of .618 retrace for this earnings report. I've been reading up at MU has a ton of debt that it will have trouble paying off as interest rates going up, they definitely won't be able to do stock buybacks. If things get really bad then 16... but for right now kinda just looking like the platform support of 31.
Long to 55.5 then short to 31.37.
Long to 55.5 then short to 31.37.
Comment:
to explain further. implied volatility hit drops longer term options more than short. implied volatility generally drops to normal the day after the first trading day after earnings... so monday.
That sort of means that longer term options will be relatively cheaper to arbitrage.
That sort of means that longer term options will be relatively cheaper to arbitrage.
If you trade short term options this may be a good place to let go tomorrow before implied volatility eats too much into profit.