Short

$META it was fun while it lasted. Sub $300 coming soon.

Updated

had a good run, but now that run is coming to an end.

I started buying puts today when price was at $524. I bought 6/21 300P. There's a chance price could break the current highs, but it wouldn't change my bias.

I think starting later this month, we're going to start to see a large move down in META.

Overall, I think there's a possibility that price goes down below where it was in 2022 at the $78 level for a final bottom. I think it's also possible that it could play out this year.

All that said, let's take things week by week from here. I'll probably buy some lottery tickets that expire end of year just incase the most bearish scenario plays out.

Good luck to bulls from here on out. It's not going to be pretty.

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So far, spot on. Let's see if earnings furthers the move lower or if we see one more spike to mark the top.

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Going to add to my short position tomorrow pre-earnings.

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A failure to break $510 is the trigger short.

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So far it's playing out, but I'm not going to take a position for earnings. Will wait to see what happens. I would've preferred price action staying positive until the bell, I don't like that the move higher has already been faded, which makes me think there might be a positive reaction to earnings.

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If we get a big bounce before end of day back to range highs, it'll make me take a short.

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Ended up taking some lotto tickets 4/26 $400. Happy to lose it if it doesn't play out.

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Welp, the lotto tickets likely to play out now.

Charts tell the truth.

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Don't get caught in this move up. We're still heading lower.

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Bought some fresh puts bc "Slickz94" thinks we're going to $500 in a few weeks, which tells you all you need to know about sentiment and a lack of understanding of the chart.

Purchased: 420P for 5/17 for $.22

Let's see how close to the top his comment ends up being.

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lol so far the comment marked the top. Up 15% so far.

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Bought for 5/31. Think the move should play out by end of month, but June expiration might be safer for those wanting to play the downside.

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Closed my position. Going to reopen next week. Think the move down likely happens next Thursday. Chop until then.

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Still think the top is in for but I don't think the fall will truly begin until July.

I do think there's one more low to be put in the beginning of June, then we'll likely rally back to the highs, setup a lower high, then the real fall will begin from July onwards

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Added the put position again. 6/14

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Nothing has changed on the chart, price is still going to head lower. I'll admit I got the timing of the next move down wrong, but it doesn't change the structure of the chart. Even with this move higher, price has just set a weekly lower high.

I bought 50 1/17/25 150P so I don't have to worry about short term moves.

Will just sit and be patient in those.

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Added a lot more puts:
40 META 08/16/2024 310.00 P
5 META 08/02/2024 385.00 P
100 META 10/18/2024 200.00 P

benjihyam

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