One of my 14 bearish positions is Huntington Bancshares (HBAN) which is sporting a very clean price gap at 11.15. Keep in mind, it’s a Banc, not a Bank.
Because the shares are so cheap, I wanted to get options with a lot of time left, since it’ll take a while for the shares to drop any meaningful amount. Thus, I own January 17 2025 (almost 500 days away!!!!) puts at $15, which means it’s almost all intrinsic value. This is a fantastic H&S topping pattern, although I am not too thrilled how much violation there was of the neckline. That distortion was caused, of course, by that pig Yellen and her BTFP crime.
Here is a longer timescale, illustrating how dramatically this stock can sometimes move.
