[~1:45PM Eastern time] Stocks are selling off, with the tech sector taking the biggest hit.
I sold SQ yesterday at 252.2 (on close) because I would have sold if we gapped down today, which is what actually happened. I would have sold at 249 this morning at open though, so it wouldn’t have been as bad as the current price action.
I like SQ in the 230-240 zone (for buying) to target that same 265 ish gap fill level. My stop loss would be roughly 10-13 dollars to the downside.
PTON is also selling off hard today, and I’m constructing a plan for entering long again. I will likely sell weekly puts until I get assigned.
I’m leaning towards buying shares of PLTR instead of selling puts again because the option premium is quite a bit lower now.
Bigfry's Blog 