Ridiculous pennant going into earnings next Thu, not sure if they're gonna tank it like they should or if they pump garbage earnings like last December.
Powell gave the market the green light to pump garbage again, so I might buy a straddle this time. There's 2 weeks between earnings and options expiration. I would lean towards puts if buying only one side. Might consider doing just out of the money puts and go one way. Not sure yet, will decide by Thursday morning. PD always drops the day of earnings during market hours, so puts should be purchased Wed afternoon, calls on Thu afternoon if so inclined.
Powell gave the market the green light to pump garbage again, so I might buy a straddle this time. There's 2 weeks between earnings and options expiration. I would lean towards puts if buying only one side. Might consider doing just out of the money puts and go one way. Not sure yet, will decide by Thursday morning. PD always drops the day of earnings during market hours, so puts should be purchased Wed afternoon, calls on Thu afternoon if so inclined.
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Note: That pennant goes 17 months from the original COVID tank....
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Hoping this goes up bigly tomorrow so I can get into $40 puts cheap
Trade active:
Snagged some $40 puts at $44...
PDD always goes down the day of earnings, earnings after hours tomorrow
Looks like it wants to post a shooting star today so might as well wait until EOD if you aren;t in yet
PDD always goes down the day of earnings, earnings after hours tomorrow
Looks like it wants to post a shooting star today so might as well wait until EOD if you aren;t in yet
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Note: It did break out of the pennant, so the play is for a down day tomorrow, unload 2/3 of the puts and get a free play at earnings (hopefully, lol)
Order cancelled:
Not quite cancelled, kept a couple of puts since put prices were higher than when I bought them Stock didn;t move but put prices went up anyways, lol.
Gonna be hard to make money off $40 puts when it;s holding $44, gotta drop at least 10%, but we've also got 2 weeks....
Gonna be hard to make money off $40 puts when it;s holding $44, gotta drop at least 10%, but we've also got 2 weeks....
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General rule of thumb is if a stock doesn;t do what you expect then bail on the trade. Put premiums are still higher than yesterday though, so there must be some people that expect this to tank.
holding couple of contracts... but don;t blame me if we lose, lol, you had your chance to bail
holding couple of contracts... but don;t blame me if we lose, lol, you had your chance to bail
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Odd action, probably going up on crap earnings again, lol
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LOL, pumping on crap earnings. Operating margins went down more than revenue went up, but the market doesn't care, lol. Non-GAAP losses are higher than last year.
Projecting to lose money again next quarter, but wait until at least a double top to short.
Projecting to lose money again next quarter, but wait until at least a double top to short.