SQ on a Breakout

Hi Shoppers,

Block (Ticker: SQ) has been struggling to trade over its 200 day moving average.

Yesterday it managed to close above it:

I think if SQ can trade consistently over $67 it will trade back up to that resistance at $72.

If you look at next week’s options, the calls have a nice little upside skew what makes for a great call vertical:

Use that 200 day level at $66 as your stop loss.

Thanks for Reading … See You Next Tuesday,

Licia Leslie

Licia Leslie

Licia Leslie

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About the Author

Licia Leslie

Licia Leslie

Former CBOE floor trader and CIO at Karman Line Capital. Author of ‘The Option Traders Hedge Fund’ with over 30 years of options trading experience.

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