Trade Alert
Betting against another meme stock
Another Meme Stock On Another Tear
Earlier this month, we bet against Bed Bath & Beyond (BBBY) at $5.50 (it’s trading at about $2.67 as I type this). I just bet another meme stock that’s been on a tear this year.
Like BBBY, it’s one I successfully bet against last year as well. I can’t promise this entry will be successful as well, but I like our odds here. First a couple of reminders about these speculative, bearish options bets:
It’s unlikely I will bet against a rallying stock at the exact top, but this seems like a reasonable entry point.
Allocate only as much money as you are prepared to lose with this kind of trade. You will either be right or wrong by the time the option expires, and if you are wrong, your option will expire worthless (I plan to exit before expiration, but the general point stands).
On to the trade:
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