QuantitativeExhaustion

Once bitten twice shy

BATS:PCLN   None
10
PCLN glory days might be over. I could not get on the PCLN gravy train. Tried shorting once and hit my stop limit. Never trusted the company fundamentals. Chart is at a critical point where it could run a bit more or breakdown and fall fast. I'm staying away for now until I see where the direction is headed at the end of the week. Even though I missed the previous bull express, I'd rather be on the bear side now. Just took a look at options prices, not bad. If W pattern shapes out I would play the breakdown, and SELL Jan. 700 Calls. If prices stagnate in this area, I would SELL 660 Jan. Calls or go with more risk and BUY 500 Jan. out-of-the-money PUTS.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.