PlayerInvictus

QCOM pullback

Short
NASDAQ:QCOM   QUALCOMM INC
I mean its been overbought. Any short within 57~77 would do, IMHO. Hold for couple days then take profit or ride with earnings if you think QCOM will fail.
Trade active: 65 PUT active.
Comment:
Volume seem to low, while it rallied and pullback died fairly quick, this may turn bearish and selloff may occur...

Comments

Active 80 puts. Increasing price on decreasing volume can be bearish. We are looking for low 70s by expiration. If you bought at 55, and it's now at 79, wouldnt u take money off the table?....I feel investors may have reason to sell off QCOM while the price is up...concerns of antitrust and monopoly allegations by the FTC only add to the bearish case.
+1 Reply
PlayerInvictus newyorkNick1992
@newyorkNick1992, I didn't bought 55 puts. I bought 65 puts after it surged up at a much low cost; my loss is very limited with potential high possibility of payout IF the sell off occurs. My contract 1 month out. And yes you are right. Only time will tell though..
Reply
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