The only really bright spot for me on Thursday was my bearish META position, by way of September $700 puts. It would be simple to take the fat profits and be done with it, but looking at Meta’s history, it seems to me that big price gaps don’t typically mark a “one and done” situation but instead kick off a long slide of lower prices. Keep in mind, these options have 141 days of life in them. Why dump them now?
Here’s what the recent chart looks like. I’m sticking with it.
