Twitter for next earnings

15 mag 2020

I took a long term, OTM Put on TWTR (Sep 23 Strike) to play it back down to the last major low. Next earnings are in July and lacking an August expiration I took the September to encapsulate the potential move as well as capture the volatility rise leading into it. The technical setup is playing the 50% retracement of the big March move combined with price action respecting the level going back as far as the IPO.