Overbloated stocks are taking a hit now on earnings even when they beat like WDAY. Bought some QADA puts this morning, earnings after market close. 96x P/E, lol. Even if it goes up tomorrow, you still have over 3 weeks for it to come back down with June 50 puts.
Comment:
Earnings suck, guidance sucks, should head down tomorrow. We'll see how much, this stock is thinly traded.
Comment:
LOL, someone put a panic order in, and I missed it. Either way it's headed to $40, might just keep the puts until expiration. I've got 3 weeks to watch this stupid stock tank, they lost money this quarter, gonna lose money next quarter, and their guidance shows no growth.
Trade active:
There's the obligatory 10% drop and it hit support. Flipped half the puts here to lock in profits, letting the rest ride until expiration. See my other post about the big bear flag, you'd have to be stupid to buy this stock, there's absolutely no upside for at least a year given the guidance.