Buying SQ put contracts.
The payment processing business is becoming more competitive and SQ trades at a very high multiple to earnings. The stock is beginning to break lower, and this could cause a stampede for the exits from speculative traders stuck with losses.
- Buy (to open) 5 SQ December 17th $250 Puts
- Limit $28.00 or less
- The new position will represent roughly 10.7% of our Spec Model capital
- 13:02 Executed
- Bot 5 SQ Dec 17th $250 Puts @ $26.95