This one was an easy play for me. Stock was way overbought. It went from $126.82 to $144.16 in a week! Thats 13.6%! This isn't China and they didn't announce earnings. Running up into the announcement was the perfect setup.
I was thinking about shorting into the announcement, but when I came across this tidbit on a site I frequent, I was sold :
The stock is trading up 4% to $144 today in anticipation of a media event and possible product announcement scheduled for tomorrow. Nearly 400,000 contracts traded today, with calls outnumbering puts 2:1. Remarkably, all of this volume was executed without a single trade exceeding 2600 contracts, showing a substantial âretailâ involvement in the name.
Bought $140 puts 15 min before the announcement. Can someone say "huge ass hype"?
I was thinking about shorting into the announcement, but when I came across this tidbit on a site I frequent, I was sold :
The stock is trading up 4% to $144 today in anticipation of a media event and possible product announcement scheduled for tomorrow. Nearly 400,000 contracts traded today, with calls outnumbering puts 2:1. Remarkably, all of this volume was executed without a single trade exceeding 2600 contracts, showing a substantial âretailâ involvement in the name.
Bought $140 puts 15 min before the announcement. Can someone say "huge ass hype"?