TopOptionAlert
Oct 23, 1:09 PM
$ETSY OCT30 95C · in play
Zone:
$90.20 to
$91.45
Invalidation: close under
$86
Objectives:
$95, then
$100
The math: up 4.6% to the first objective and 10.1% to the second, against 5.3% risk on the invalidation, about even money to the first and nearly 2 to 1 to the second.
Dear friend, picture a garage sale where the best table finally draws a crowd. Yesterday Etsy jumped four percent to a brand new 52 week high of 91.06, on 3.2 million shares, the busiest day in a week. That is what strength looks like before a report: buyers are not waiting to see the numbers, they are positioning ahead of them. We are playing a swing into Wednesday morning's earnings, a plain bet the crowd keeps growing into the print, and if shares close under 86 the breakout failed and we walk away with the small loss.
P.S. The report lands before the bell Wednesday: hold above
$91 after the print and the breakout is real, lose
$86 and the only opinion that matters just changed.
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