SQ short idea $220p
Updated
I've got $220 puts for 
SQ expiring in 3 weeks, I think SQ could break here. Once it breaks $225. So far the $227.4 level is being defended with some volume but seems weak here. I think $220 can trade and even continue to fall into that tiny gap around $160 in a few more weeks. Time will tell. Size accordingly. A bear put spread play is also not a bad idea selling the 215p and buying $220 puts to lower risk.
SQ expiring in 3 weeks, I think SQ could break here. Once it breaks $225. So far the $227.4 level is being defended with some volume but seems weak here. I think $220 can trade and even continue to fall into that tiny gap around $160 in a few more weeks. Time will tell. Size accordingly. A bear put spread play is also not a bad idea selling the 215p and buying $220 puts to lower risk. Note
Was not able to break 229 got rejected so far. I think odd favor the bears in SQ for the next few weeks.Note
So far $226 well defended. Let's give it one more hour. Seems like it cannot pass $227.27. A red close would be pretty telling. $0.60 more to go before red. Let's see, they could continue defending this throughout the day. Looking for a break below $225 for that Head and Shoulders to be at play.Note
Broke through 227 with some conviction and volume, you have to respect that. 220p premium fell from $3.6 to $3.15 which can be telling. Manage your account.Note
Had trouble piercing through $229.66 seems like it was a fake but let's continue monitoring this beast. A little shakeup certainly for bears with weak claws.Note
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