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Price Break Provides Option Profits in $FB
In our TNT Options Trading Service on February 11th, we talked about Facebook (FB). After watching the trend and the broader market, we suggested simple targets for $FB if it should break either above its 200-day SMA or below its key $166.30 flat-line. Shares had been gyrating since earnings, and the market was trying to […]
In our TNT Options Trading Service on February 11th, we talked about Facebook (FB).
After watching the trend and the broader market, we suggested simple targets for $FB if it should break either above its 200-day SMA or below its key $166.30 flat-line. Shares had been gyrating since earnings, and the market was trying to decide if FB really did “belong here”. The next trading day, the shares of $FB opened right on their 200-day SMA, attempted to rally up off it, but quickly moved lower, offering an entry into a put position as the stock fell below its $163.30 flat-line. The stock continued to move lower over the course of the week, and option traders utilizing resistance and support flat-lines were able to take advantage of the move, and take some profits home with them:
Subscribers took advantage of these opportunities and were able to profit over 100% on the downside move in Facebook (FB)!