Not to hold if it goes below 37.
This was last friday and when I wrote put it was 39.
Last friday it dropped from 38.65 to 36.73 and I took a loss and got out as I believed we had no support after 37 as their is no chart.
Now only thing they can halt this slide is IPO price or if CEO/Some Big Guns comes out and backs the company.
Else anyone averaging down can continue to do this into 20's.
Going to IPO price is what I saw.
For the sake of longs, I hope I am wrong but that is what it looks like for now.
Where is the stop loss.. Man I have been saying that I sold puts yesterday cuz I thought it was oversold and near major support.
But boy did it crack that in a hurry.
I believe 24 on cards as Hero 5 is pushed out.
I told loss on the position.. I may be wrong and it will start bouncing next week; however, for now, I think best option was to be on sidelines with GPRO. Between 36.83 and 24 there is no chart and no technical support.
Regardless, may my loss be your gain and it goes up :)
5k down the gutter to GPRO..
I was gonna hold thru and see what happens next week, but market went from -350 to -200 and this hasn't moved.
On top, AMBA is up even after downgrade and no effect on GPRO
It seems like we will see 24 if not lower.
I am out
GLTA Longs and Shorts.
So far okay. Market down huge as well. I will try and cover at open as I don't want to catch some big guys dump. Hopefully the time decay and this price will earn me a few pennies and I can go offline :)
Let's see what tomorrow brings. I got stuck selling puts. Impulse trade.
Sold 37.5 puts as I saw a lot of premium and now realize that it was a bad trade. I will close in morning at breakeven of 50-100 dollar loss.
I think the downside is limited. Trading at PE of 20 for a High Growth stock is low.
But, stocks tend to overshoot and undershoot by alot; hence I think 37 support will be a major key..
if it doesnt hold 37.. I think it will go to 28.. I believe that was the IPO price...
From that point it will just depend on what Hero 5 and Drone brings in. The GPRO media hopes are dead.
That is the plan.
It seems like some folks here are holding for 60's/50's/40's so I can't complain.
However, below 37.13 we can go to 26 easily.
I was expect a decent close at 39.
Not a lot of buffer let.
If below 37.5, I will get stocks assigned at 37.3. I am sell in AH as I believe next week, we can have a black tuesday.
I might get it at 37.3...
I hope I don't as I sold some puts expiring tomorrow.
It feels like a lot of dumping going on..
However the fundamentals now do look really good for GPRO..
Expected to earn 2.1 dollars in 2017 and trading at about 18 forward PE with a lot of growth prospects.
Man O Man.. What a close down.
I should plan on wiring funds next week.
Seems like 37.5 is coming tommorrow.
BTW I can't edit subject but I will be in at 37.3 if this is below 37.5 tomorrow.
I am hoping that it doesn't drop as much as it has been dropping for last 10 days..