On Friday’s CNBC’s Options Action, the crew analyzed the performance of the FANG stocks. Facebook and the FANG stocks have underperformed the S&P500 over the past year. Recently it has started to outperform and catchup with the overall market. Additionally Facebook has reached a ascending wedge formation and primed for a bullish breakout. Expecting a move higher, Michael Khouw suggested buying a Nov/Jan 180 Call Calendar for a $3.00 Debit.
We’ve structured this trade in OptionsPlay so you can analyze and view this trade along with the supporting technical chart at your convenience. You can also view the Options Action’s video by clicking on the following link: FB Options Action