Is this a good entry point on SWAV

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.

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.

Why try to guess when a downtrend will reverse, when you can pick a bounce on an uptrend.