SEDG SolarEdge broke out today and closed above recent resistance just under $310. Expecting to see a strong follow through move near term heading into earnings.
Unusual Options Activity Today - Bullish Put Sale
$8.6M in $200/$220 strike (OTM) March'21 puts traded today (18x OI/5x OI)
In my opinion, this is a great trade because there is strong support around $228. Even if there is a negative earnings reaction in early November, and subsequent drop in price...it's likely to catch support and bounce off this level.
Medium term price target: $400 by year-end (assumes a strong earnings report in early November)
Note: This is NOT investment advice.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.