PTON is possibly setting up for some nice trades next week. A few levels to look at above and below. Trying to break out of this falling wedge, notice the strong volume at close yesterday and it's sitting right on top of the upper TL. However, VPOC (purple line) is right above and if you look left you can see all the Chop (Market Disequilibrium) and is entering that area again. Getting through that area would be my trigger to go long targeting $45-$48 calls. The 12/31 $45 calls have strong volume. On the contrary, if we are rejected at VPOC and fall back into the channel, under the upper TL on strong negative volume, than puts are the play. The 12/31 $40 puts have decent volume, but overall not a whole lot I like to the downside. As always, trade your way, these are my thoughts, not financial advice. In this market sometimes it is just better to observe and soak in what the price action is doing.
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