Paramount GlobalShort
In Case You Were Curious What Overbought Looks Like
Updated
VIAC is overbought. Registering RSI 85+ today on three separate timeframes has qualified this to me as a clear shorting opportunity. This isn't a high multiple name in a sexy sector, either. This is a legacy media business trying to hack it in a crowded market. I'm long weekly lotto $80 puts (I'm basically NEVER this aggressive) and also short shares in the long term. If this trade drags on I'll find something to spread it with.
Cheers!
Cheers!
Note
Closed the trade this morning for a 65% profit. happy with that result! Still short the stock.Note
Closed the Shares for a large profit this morning
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