TopOptionAlert
Oct 20, 3:09 PM
$VZ OCT30 46C · in play
Zone:
$44.23 to
$44.86
Invalidation: close under
$44.00
Objectives:
$45.58, then
$46.58
The math: up 2.3% to the first objective and 4.6% to the second, against 1.2% risk on the invalidation, better than 3 to 1 to the second
Dear friend, picture a steady old name that took one hard fall on October 9, down to 40.81 dollars, and has spent every session since quietly climbing back. Verizon sits near 44.55 dollars today, up on the day and up about 7 percent in five sessions, and what that means is buyers are walking it back toward the 45.58 dollar high from last week instead of giving up on it. This swing setup has a date on it too, because earnings land on October 26, and a name already moving into its report often keeps moving as people take their places before the number. A close under 44 dollars says the climb lost its footing and you step aside.
P.S. The one thing to watch is a close over 45.58 dollars, the high from October 15, because that would turn this climb into open road toward the next level up.
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