Trade Entry Feb. 7 expiry. Put Credit Spread. 8/10 strikes. $1.00 or more credit. Max risk $100. Max reward $100. POP 72%. (I would prefer better than 1:1 payout, so even trying for $1.05 or $1.10 makes a big difference). Minimum acceptable credit is $1.00.
Chart Details Bullish flat bottom wedge forming in a consolidation since 2014 highs of $17+. Price entering end of pattern. Earnings on Feb. 4th. Multiple gaps to fill up to $17. 10% increase in this ticker is less than $1 price increase. Good possibilities.
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