1. Long term trend is up.
2. It’s a “hedge fund hotel” meaning it’s one of those high market cap, high liquidity stocks that are used to park liquidity.
3. The stock has been consolidating for nearly two months which offers pretty decent risk reward as we’re expecting volatility expansion
Here’s the trade:
Buy to open V Aug 70 Calls @1.80 or lower
This is probably going to be a “grinder” of a trade, meaning when a rally does come it will not come all at once.
72.50 is my first target for an exit, and a close sub 67.50 will take me out of the trade.