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Is this a good entry point on SWAV
Posted on 11/24/21 at 8:00 am
Posted on 11/24/21 at 8:00 am
Down to 188 from 240 post earnings. Super strong company and leader in the industry. Great earnings. Had thought they would be a buyout candidate at some point.
Anyone else in the industry know what is going on with this one?
Anyone else in the industry know what is going on with this one?
This post was edited on 11/24/21 at 8:01 am
Posted on 11/24/21 at 8:09 am to LChama
I have been watching it as well and was thinking about doing some long calls when it settles down. It only has a 33M float and is heavily institutionally owned so you would think it would have a higher probability of rebounding.
Posted on 11/24/21 at 5:42 pm to LChama
I’m a chart nerd so I always enjoy looking at a chart that I’ve never seen before. It’s a really nice chart. I like how it’s respecting its channel. SWAV hasn’t really tested the lower/support end of this channel since it was put in mid-late March. But the fact that it stopped/paused its sell off and respected the support level of the channel is very encouraging. I don’t have a crystal ball, but I’d expect it to vibrate along this support level before it starts to trade its way towards the mean of the channel.
If I wanted to own it, I’d sell a Dec. $190 put (2% below where it closed). You’d collect $740 in premium on the bid and if you get put the stock, that’d put your cost basis at $182.60.
If I wanted to own it, I’d sell a Dec. $190 put (2% below where it closed). You’d collect $740 in premium on the bid and if you get put the stock, that’d put your cost basis at $182.60.
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