Technicals were good for a solid buy, now they are flat. Short squeze could give a nice pop, (over 40% shorted daily for past few days), but it has to happen by mid day Monday!. Don't expect some miracle earnings, we've seen better than expected earnings and SP still drop. My 2 cents, if SP doesn't break $27 by mid monday, SP is gonna fall hard. Much Much more than the Puts will cost you. Like $20 or below hard.
I don't know about that. 27 would be the hedge, so if price drops, it locks in that price. Conversely, if price is 30, it expires worthless. I just checked the open interest for the July exp. and there are lots of calls around that level, not many puts. This indicates to me, the majority are hedging the opposite direction.
Sorry friend, but earnings are comming up and the price usually climbs higher. I think 27 to 27.5 before earnings. After earnings is when profit taking takes place and the ladder down to the low 20s begin.