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$CLNY Ascending Triangle, Bullish Options Activity

CCLNY Colony Capital (REIT) - recently broke out of an ascending triangle pattern and above its 200d ema. Expecting a strong move into earnings in early November. Monitor for for close above $3.25 for confirmation of bullish near term move.

1M Bullish Options Activity Today
Put sale - 800K of $3.00 strike (ITM) March'21 puts sold (20K contracts - 108x open interest)
Call purchase - 200K of $2.50 strike (ITM) March'21 calls purchased

Near term target - $4.00 by mid-November (assumes solid ER)


Note: This is NOT investment advice.
Bullish PatternsChart PatternsCLNYTechnical IndicatorsoptionsTrend Analysis

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