fuzzballl 9:27 am on Thursday, May 2, 2019
Tags: ShortPuts ( 4,763 )

SQ

#ShortPuts – Starter position out to June…13% annualized.

Sold SQ JUN 21 2019 60.0 Puts @ 1.06

fuzzballl 9:40 am on Thursday, May 2, 2019

Adding one more a little more aggressively…

Sold 1 SQ MAY 31 2019 65.0 Put @ 2.00
jsd501 9:54 am on Thursday, May 2, 2019

If I am reading the chart correctly, we are in a bear market on SQ. On the weekly chart we are below the 10,20,30 and 40 week MA. So I bought the 65 puts for July and sold the 50 puts. I also sold the 80 calls to pay for the trade. The net cost to me was .35 cents.
- fuzzballl 10:39 am on Thursday, May 2, 2019
  
  That certainly could work. Stock is extremely weak after issuing crappy guidance. Definitely plenty of overhead resistance now. Been looking for a chance to get back into it so figured 40 percent off highs and down near the panic low in Dec would be a good place to start.
  
  One of those Najarian dudes was saying he was buying aggressively at 67 this morning. More than likely looking for a short term bounce is my guess…