TopOptionsAIerts
Nov 1, 12:22 PM
$ARM NOV20 215C · still actionable
Zone:
$204.53 to
$207.41
Invalidation: close under
$198.77
Objectives:
$218.33, then
$230.69
The math: up 6.0% to the first objective and 12.0% to the second, against 3.5% risk on the invalidation, better than 3 to 1 to the second.
I like this swing because Friday washed it out to
$198.77 and buyers still closed it back at
$205.97. Earnings land Nov 4 after close, so the Nov 20 expiry gives this room past the report. The zone is tight and the invalidation is clear, so you know where you are wrong before the move starts. If
$198.77 holds,
$218.33 is the first spot to watch for buyers pushing back toward the prior range.
Watch:
$228.77, the Thursday close. A close over it puts the prior range back in play.
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