Is It Time to Short Meta?
Tim Knight | Aug 30, 2023 02:54PM ET
Now there’s a title that doesn’t leave much to the imagination.
As I am typing this, the Nasdaq 100 Futures are up nearly 100 points (on the heels of a multi-hundred point rise yesterday), yet META (NASDAQ:META) is actually down somewhat. That is not the sole basis for my idea, however (obviously!) This is what cinched it for me:
Focusing on META itself, shown below, my view is that we’ve stalled out at the horizontal line. I have acquired January $310 puts at $31.90.
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