$SEDG Ascending Triangle Breakout, Bullish Put Sale

21 thg 10, 2020

SEDG SolarEdge broke out today and closed above recent resistance just under $310.
Expecting to see a strong follow through move near term heading into earnings.

Unusual Options Activity Today - Bullish Put Sale
8.6M in $200/$220 strike (OTM) March'21 puts traded today (18x OI/5x OI)

In my opinion, this is a great trade because there is strong support around $228. Even if there is a negative earnings reaction in early November, and subsequent drop in price...it's likely to catch support and bounce off this level.

Medium term price target: $400 by year-end (assumes a strong earnings report in early November)



Note: This is NOT investment advice.