GLT tanked 7 out of last 8 earnings, I buy puts every quarter thinking they can't tank again, and they do. This time might be different since the market didn't melt it all the way back up like the previous 7 tanks.
Feb $12.5 puts, only 10 contracts. Small play just because I do this every quarter.
These are my thoughts on GLT:
There is a nice strong resistance that the stock bounced today. The candle of today was very strong , the low is the open and the close is the high of today so buyers looked strong today. Yesterday, the sellers were in control and finished the day in power but today it completely change on the buying side and this is why i think the...
GLT seems forming an inverse flag & pole formation. It looks very weak as it crossed down all the EMA & MA lines. For entry confirmation we would like it to break 18 level & our target is 15
You can check our detailed analysis on GLT in the trading room/ Executive summary link here-
Time Span: 6:45"