$STX Seagate Technologies Earnings Next Week - Bearish Options Activity
Big bearish earnings bet today on Seagate Technologies - with almost 17k $45.00 strike (ATM) March 15th puts traded vs OI of under 3k for total premium of $4.6M. See chart for near and medium term targets - assumes earnings next week is a miss and/or guidance/future outlook provided is below...
$STX looks like it's broken major resistance and is sporting a dividend of 4.48%. It will have no trouble getting to 62.76. When it breaks 62.76 it will be clear sailing to 69. That's around a 24% gain from 56.05.
Industry: Data Storage Devices
(Blue line) is support
(Red line) is resistance
(Red circle) a big weekly Gap
Note Weekly Gap is not filled, that show me how bullish is the price
Some Long lower shadows testing the new support level 46.60 (Blue line)
I see intentions of the price of going for the main resitance level around 62.60 based in the...