Beautiful consolidation wedge here, sitting on top of the 50 day moving average. This is where it bounces folks. I would at least expect it to retest previous highs around 80, probabaly in the next month or so (earnings late Apr / early May). Should also get some sympathy from FB's recent all-time-high-run. Worst case - if this fails here (10% chance?) the 200 day is near the previous big uptrend line around 50. Will be looking to add some calls tomorrow.
Note
i expect us to sit in this 70-72 range for a few sessions and consolidate, but i do expect we continue to march higher into the end of next week. the original options position was posted below but with many of them expiring today, the position has been adjusted and now is:
20x may21 60 call
20x apr16 68 call
60x apr23 68 call
105x apr16 70 call
-160x apr16 75 call
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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.