Sentiment is awful, there's no earnings info for another month, and the chart looks disastrous. Appears like a perfect set-up for a contrarian trade. We're watching Jun 600 calls, but we're not touching them until the stock tests the 470-472 level. With IV at a new 52 week high today, the calls are just too expensive and there's still room for another ~$20 lower in the charts.
Note
CMG losses key support at $472. 400 next level.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.