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Zoom Communications (ZM) tried to break that $60 level just a couple of months ago. Now, look at this thing breaking $100. And Call buyers are still coming in!
You can see from the data that over 30,000+ ZM options have traded on the day, mainly on the Call side. This week and next week options are showing the most activity.
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Earnings aren't until March 4th, but this February 28th $105 Calls stood out to me. Take a look at the Risk Reward Breakeven Price (RR$) there. The buyer needs a move higher than $112.01. While you're at it, take a look at all the RR$ prices. This should give you an indication of how the market is pricing ZM movement over the next week. It also let's you see how "expensive" they might be.
But $112.01??? By next week? Wow!!! The stock is coming from $60.
Take a look at that chart, it looks like a nice cup formation, does it level ("handle") off here or shoot higher?
Let me know what you think.
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