Options Traders Ride Facebook Stock Comeback to Triple-Digit Profit

Despite the recent data drama, Facebook stock has rallied higher

Managing Editor
Apr 26, 2018 at 2:33 PM
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Subscribers to Schaeffer's Event Trader service just scored a 117% profit with the Facebook Inc (NASDAQ:FB) April 155 call. We're going to take a look back to see why we were initially bullish on FB, and how the options trade unfolded.

At the time of our call recommendation from Tuesday, April 3, we noted that Facebook stock was up 10% year-over-year, and also within the vicinity of the round $150 level. Right above here -- namely, the $154 price point -- represented a $450 billion market cap. The stock was also seeing support from the 80-week moving average, a former layer of support.

What's more, Facebook stock was technically oversold, according to its Relative Strength Index (RSI) at the time. FB was also sporting a heavy amount of put open interest, including a noteworthy accumulation at the 150 strike -- further strengthening the case that a technical bottom was near.
 
In our April 3 alert, we recommended that subscribers buy the April 155 call. Exactly one week later, on April 10, we recommended they close half their position, with the stock battling back to nearly $166. We sent out a final alert to subscribers to close the last 50% of the position on Friday, April 20, notching a profit of 117%.
 

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