META has been trending within a bearish channel since its last earnings. After that stellar July report, the stock gapped up to hit a new all-time high at $796, but since then it’s been drifting downward.
Last week, I noticed the share price revisiting the previous earnings gap area — a potential support zone — while the broader market continued making new highs. With META lagging behind, I figured it might be time for the stock to play catch-up. So, I started selling CSPs just below the recent low — close enough to capture decent premium, but still with a bit of cushion in case of further pullback.
The stock did slip back to Monday’s low but didn’t quite breach my strike, so the CSPs expired worthless and I pocketed the full premium. I’ll likely sell another round once the dust settles and there’s more clarity around the new tariff headlines.
| Side | Price | Realized P&L |
|---|---|---|
| Buy Close | 0.00 | +100.00% Closed |
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Load up Nov calls and expect 400% profit in 3 weeks.