$FB Facebook - Head & Shoulders, Bearish Options Activity

16 Eki 2020

FB Facebook - Not the cleanest looking Head & Shoulders and this would definitely be a risky short, but I could see this closing the gap from July 31st at $235.00 in the near term. Given the current trajectory of the 200d ema line, that would likely provide additional support at that level to prevent any further decline.

Bearish Unusual Options Activity Today:
13.4M of $280.00 strike (deep ITM) December'20 puts traded today

Near term target: $235.00 by early November



Note: This is NOT investment advice.