TopOptionAlert
Oct 24, 12:32 PM
$IONQ NOV20 32C · still actionable
Zone:
$31.05 to
$31.49
Invalidation: close under
$30.38
Objectives:
$32.52, then
$34.36
The math: up 4.0% to the first objective and 9.9% to the second, against 2.8% risk on the invalidation, better than 3 to 1 to the second.
Dear friend, think of a name pushed down the stairs for a month that finally grabbed the railing at the bottom step. IonQ is down about 30 percent in the past month, yet buyers held near 30 dollars all week and Friday closed a touch higher, which tells you sellers are running out of easy supply where it matters most. This is a swing into the November 5 earnings report, where a good print can carry a beaten down name back toward the levels it just left. You are not betting on a miracle, just on a floor that has held four times and a date that gives buyers a reason to step back in.
P.S. Watch 32.52 first. It was the high on Wednesday, and a close over it shows buyers pressing on, not just defending the low.
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