PINS - Gap Fill to the $70 level In Play Long

Pinterest, Inc.NYSE

Description

⋅ Oct 20, 2021 4:50 PM

Confirmed buy-out offer at $70.00 for PINS by PYPL.

Turns this pattern into a bull-flag and makes the gap fill at $70.00 a definite possibility likely very soon.

(Opinion only)

Trade active

⋅ Oct 20, 2021 5:28 PM

Trade active

⋅ Oct 20, 2021 5:55 PM

Sold my 10/22 $70 calls for about 50% profit and rolled out into some 10/29 call spreads with a 4:1 profit/risk profile.

(Not advice, just sharing my strategy)

Comment

⋅ Oct 20, 2021 5:56 PM

Trade active

⋅ Oct 20, 2021 8:28 PM

Bull Flag intact

Above green-line (green means go)

Target 1.618 fibonacci extension which coincides with the $70 gap-fill.

Buy enough time to see it play out if playing. (not advice).

Trade closed manually

⋅ Oct 25, 2021 1:15 PM

PYPL no longer pursuing.

Comments

dit13

⋅ Oct 20, 2021 5:54 PM

So buy?

StockPickingEnthusiast

⋅ Oct 20, 2021 5:57 PM

@dit13, Do whatever you do at your own risk. My strategy was to roll out my profits from the calls expiring this week into longer dated (next week) with call debit spreads. This is because of the very high implied vol on this week's expiring calls.