CNBC’s Options Action Trade for Oct 30th, 2017 – Viacom (VIAB)
On Friday’s CNBC’s Options Action, the crew analyzed the performance of the media industry. The media industry has outperformed the overall market by a wide margin since the 2008 financial crisis, but recently has started to lag in 2017. Viacom, part of the media industry recently broke below a bullish trendline with a head & shoulders formation. Coupled with a declining viewership, Viacom is likely to decline further. Expecting a move lower, Michael Khouw suggested buying a Jan 22.5/20 Put Vertical for a $0.70 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: VIAB Options Action