FIT

I play this one quite a bit. For those of you that want a quick scalp, might I suggest the June 24th $12 Calls at the open today. Try to get em for $1.25 or close to that. $1.40 tops. Its due for a run. I think today will be the day. Close out before 4PM though. Brexit. The world's gonna meltdown :sneaky:. Brits. Gotta love em.
 
Took a small position. Picked up 5 of the $11.50's for $1.80. Zero time value, all intrinsic. Fit currently $13.32 as I type. It could see $14 by tomorrow. Since its a small position, I will let ride overnight.

ps.... I'm new to ET so if this is not proper for me to post like this lemmeee know.
 
The above trade was a loser. No biggie, I got out at $13.05. But still, a loser's a loser.

On Friday, the pre-market low was $12. There were over 13,000 puts (6/24 expiration) at $12. That may have been impetus for not going down further. Retail traders bought all day. Probably not a good sign.

I just don't know about this one. Cramer (am I allowed to speak his name here?) has his rep on the line, albeit he's picked some huge losers in the past, but this one is very high visibility.

The company has potential, and it is number one on Amazon in the fitness wearable category. I bet Baron has one lol, but I just don't know where its going. Its not a gpro in the sense that the market is much greater. And they have an all-star BOD plus some Silicon Valley heavyweight VC's. Balance sheet, the best I can ascertain is solid, but I am no forensic accountant.

But if the sales are cooling off, I can see $11 easy. The thing about it is, retail players love it. That means it can go up nicely on low volume days... I will post my trades on it here. Puts. Calls. It matters not.
 
The other thing about this piggy, is its always the subject of buyout rumors. Rumors are a good thing for option traders. My instincts say "buy" tomorrow on a sell-off below $12. In the PM.
 
Interesting pre-market volume this morning. (32K as I type) This thing rarely has any action prior to the bell. Its up at least 5% in the last week. Could be getting some pin action off Garmin as their fitness products did well, but I would think that all that was reflected in yesterday's up move.


Hmmmm.... this could be the advent of the long awaited pop. I think they report pretty soon. Will check.

Add: Earnings 8/2 after the bell. (expected)
 
I think Garmin's a good vote of confidence. Fit still numero uno on amazon. Let it pull back and get some 12 or 12.50 calls at near intrinsic value. Should be able to scalp a nice percentage by tomorrow. I like the pre-market action this AM. Could easily hit 13.75 today.
 
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