Reading up on Bollinger Band TA. Closing below the BB lower trend line for 2 days could signify a Bullish reversal. Last Wed and Thurs we did just that on LIGHT VOL. If FB continues to be the trading stock that it is, we should see a move upwards into the 27's this week. If not then its prob down to mid 24's to close that gap. Note there are gaps at 27.83 and 29.73 that should get closed before earnings.
Funny thing about those Billinger Bands... if the stock price keeps dropping then the BB's will get re-drawn lower to reflect reality. I'm not saying that the stock doesn't deserve a bounce after dropping over 20%... I'm just saying that investing based on what you see in Bollinger Bands is dangerous.
I agree with your post. I also noticed there is been huge call buying at May-June and also huge put closing out in April-June. I personally bought June calls than May calls because they have lower IV and I usually go out at least three months. Besides, FB needs time. I also bought some Sept. calls. Have a little bit of money left, can't decide whether to buy Sept. or January calls with it. What is the best call option to play into earnings?