Short

Twitter for next earnings

I took a long term, OTM Put on TWTR (Sep 23 Strike) to play it back down to the last major low. Next earnings are in July and lacking an August expiration I took the September to encapsulate the potential move as well as capture the volatility rise leading into it. The technical setup is playing the 50% retracement of the big March move combined with price action respecting the level going back as far as the IPO.

norok

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