CROX ER Lotto Short
CROX SHORT
CROX recently had a huge run up for their earnings. Around 40% from the last quarterly ER. It's at heavy resistance on the weekly chart and RSI. Multiple tests to break 53 on the daily, all were rejected. 2 grave stone dojis, 1 false bullish Harami, and it closed of on a hammer. These are very bearish set ups IMO.
This is a ER lotto play
The run up was simply too much for a business that was hit pretty hard from the pandemic. I'm expecting a correction from the earnings.
Optimal Entry
This is an ER play so whenever you feel good. I'll probably fill 1/2 at opening and 1/2 at closing.
PT purple: trend line. Expecting a retest from earnings.
SL if this backfires SL is the green resistance.
Contracts
11/20 49/50c bear spread
Sell the 49c and buy the 50c. This will create a credit spread that is around 0.6
or
11/20 49/50p bear spread
Buy the 50p and sell the 49p. This should have a debit of around 0.3-0.35
If you don't gamble earnings don't take this play. I'm using money I don't mind losing. Mange your risks!
CROX recently had a huge run up for their earnings. Around 40% from the last quarterly ER. It's at heavy resistance on the weekly chart and RSI. Multiple tests to break 53 on the daily, all were rejected. 2 grave stone dojis, 1 false bullish Harami, and it closed of on a hammer. These are very bearish set ups IMO.
This is a ER lotto play
The run up was simply too much for a business that was hit pretty hard from the pandemic. I'm expecting a correction from the earnings.
Optimal Entry
This is an ER play so whenever you feel good. I'll probably fill 1/2 at opening and 1/2 at closing.
PT purple: trend line. Expecting a retest from earnings.
SL if this backfires SL is the green resistance.
Contracts
11/20 49/50c bear spread
Sell the 49c and buy the 50c. This will create a credit spread that is around 0.6
or
11/20 49/50p bear spread
Buy the 50p and sell the 49p. This should have a debit of around 0.3-0.35
If you don't gamble earnings don't take this play. I'm using money I don't mind losing. Mange your risks!
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.