Put Option?
So been doing some research and want to see if you see a flaw in my findings. WFC (Wells fargo) every quarter drops price for the next 5-7+ days after their report no matter if it's good or bad, seems that has been the trend for a bit. Well plan on Buying a Put option for after the report since it drops which would make me money , what are yalls thoughts?
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Charles Wellington : I support this. when there is economic crisis debtors get rich. Excellent short term play with alot of potential. there's an excellent chance the report will boost shares and rally for a couple days. I too, like to use historical data to base my positioning.
Dr CoolOP Charles Wellington: I am finding a trend that a few days before the quarterly report price goes up in then anticipation of the report. Shortly after it seems a sell off is done lowering the premium of the stock, while others are playing for the upside why not try and bank on the historical drop before the rebound the following days is my theory. My brain works a little different and sometimes I like other opinions to make sure no am not missing something, just now even thinking do the short put closing on the 22nd (report due the 15th) and do a long call for after the dip so make money both ways.
70091433 : strike price?
Dr CoolOP 70091433: 35 dollars
70091433 Dr CoolOP: i bought put at 35 dollars, should i wait or get a call option as well?
Dr CoolOP : historical data shows it should drop next week, buying the call is on you I am riding it out they have a bad earning report coming in morning but it depends on if they do a buy back of stocks.
Dr CoolOP : as I predicted it dropped like a hot potato keep an eye on it sell when you feel your profits are good. It will probably start gaining around Wed so watch it
70091433 Dr CoolOP:
Dr CoolOP : Keep a close eye on it they just announced a buy back of 500m so prices might start to rise.
70091433 : target$30?
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