That might work but that's pretty far out of the money. You could buy the Jan 30 calls, or to reduce your cost and improve your odds, buy the Jan 30/35 call spread.
Greedy shorts tried to come in thinking it would continue to the mid-20s after an already severe drop in price. Now they're being forced to cover and buy at higher prices. They just don't get it. Back to $35 to fill the gap by EOY.
Good call extremeprof. I'm in your camp. I'd rather play the odds instead of trying to squeeze a tiny profit out of stocks that have been slammed. I too buy when others are fearful and greedy. I also bought FTNT when shorts drove it down under $17.
Go ahead and short. Perhaps you may get a buck or two of downside, with 10 bucks of upside. When will you retail shorts ever learn. Shorting stocks at the bottom of the range with a high short interest is a fools game.
Looks like the presentation was a dud judging by the price action today. Could go to the low 20s! But definitely a buying opportunity.
They have been losing money on WDAY since the $50s. But here they go, cocky just because the stock is not even 10 percent from all time highs. Don't celebrate too much shorts. This may be going down to the low $70s, but will be viewed as another buying opportunity by both shorts covering and longs buying again.
It actually dipped below $44 today, but when it didn't continue lower, the shorts had to give up and cover. Should finally go higher from here. AKAM is too frustrating for the shorts at these levels.
Definitely a huge over-reaction. Reminds me of when EXPE missed and it went from $65 to $45. Stock is back in the $60s after the next earnings report. HIgh probability that the same will happen with BLOX. Doesn't make sense to sell now.
For a stock as well known as this, it seems the individual investor is uninterested compared to $FB or $AAPL.
Best strategy in these cases is to buy Call options to define risk. Bought the Jan 18 calls for $.50 If there is an issue, the loss is minimal. If the stock recovers by next earnings and it's a non-issue, Options will quadruple in price.
Good advice. Bought puts yesterday on VJET and DDD out to January. Too parabolic. With the technical damage done today, any pops should now be sold. Momentum investors won't come back in until there is some pain for the longs.
Might be a good trade to wait for earnings. Numbers should be good and you could get a nice pop to $50, but it could be short-lived because of the litigation overhang. I'd rather go into earnings with options than with stock. At least your risk is defined.
That's precisely why I sold all my calls on PANW Friday. I don't trust this stock, or more accurately, the institutions that trade this stock. I'm happy to play the range with options. Still too early to buy again since sellers will likely drive this back to the low $40s. Then perhaps I'll buy.
This would be a great buy under $110. Otherwise, it's too hated right now to touch. Let the shorts have their way until they're ready to cover close to $100, then load up and go along for the ride.
Glad I sold my Calls Friday. Too big of a gain. Not surprising of course the sellers come right back in today. I may re-enter in the low $40s, but this is such a battleground stock, the only way to play it is to trade it in my opinion, or at least trade around a core position if you like it long term.