UPS Getting ready for a big move!

UPS gapped down after ER and retraced back to .618 level and have been consolidating since. We forming a bull pennant and setting up for a mean reversion to the upside with a target of 200.50. We are also forming a TTM Squeeze on 4H, 2H, 1H and 15M. Gap fill potential if the squeeze fires. Average post squeeze run is about $8 move.

Key Level: 192.70 area to break for a possible target of 195.90.

Contract Suggestion:

BTO UPS 8/20 195C @ 1.10
BTO UPS 8/20 192.5C @ 2.15

Stop loss: Below 190
UPS