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hungry_hippo

SMP up 16% on barely beating estimates

Short
Standard Motor Products, Inc. (NYSE:SMP)  
hungry_hippo Updated   
NYSE:SMP   Standard Motor Products, Inc.
Chart Patterns SMP
2
1
chartpattern smp
Up a ridiculous amount barely beating estimates. With the lack of liquidity in the market, this should head right back down to low $40's by next earnings.

There is a chance it can reach ATH before tanking though I doubt it.
Comment:
Huge jump to all time high on no volume, loading up here on puts.
Comment:
They pumped it back up over $54, lol. No bids on Level 2, less than 1,000 shares between $54 and $51. One big sell order takes this straight back to $47.
Comment:
Finally broke below $54, targeting $50.5. If it goes back up, I'm adding puts at $56, it might be range bound for a while.
Trade closed manually:
Decided to close most of my put positions since I expect the market to bounce here. Took a loss on this one, but LB more than made up for it.
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