Short VZ/ BUY 2/2/24 41 PUTS
Verizon is having a big day and leading the market in squeezing up 5 straight days with earnings already announced this morning, we are seeing long-only funds panic to own the stock by the end of today as T will also move telecom with earnings. I like this spot after a 10% move in 4 days-which is extremely rare, to take the other side. All of the previous runs of 4 days in the last 12 months were followed by a sell off as you can see in the Bloomberg Chart below. 2 Stars trade 3:30-4:00.
