$PLNT Planet Fitness - Overbought at Resistance
$PLNT Planet Fitness - Overbought at Resistance
Expecting a near term retrace - targeting $60-$62 range within 1 month (depending on overall market conditions we could dip sub-$60)
A nice way to play it might be a bear put spread, buying the Apr 18th $65.00 strike puts going for around $1.50 and selling the Apr 18th $60.00 strike puts going for about $0.45 for a total cost of about $1.00-$1.05 with a max profit of $5.00 per spread. (possible 5 to 1 return)
Note: Informational analysis, not investment advice.
Expecting a near term retrace - targeting $60-$62 range within 1 month (depending on overall market conditions we could dip sub-$60)
A nice way to play it might be a bear put spread, buying the Apr 18th $65.00 strike puts going for around $1.50 and selling the Apr 18th $60.00 strike puts going for about $0.45 for a total cost of about $1.00-$1.05 with a max profit of $5.00 per spread. (possible 5 to 1 return)
Note: Informational analysis, not investment advice.
Comment:
Correction: Max profit about $4.00 per spread or possible 4:1 return