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Shorting Planet Fitness to hedge my long positions from hereSince I'm unsure what the market will do tomorrow, I have a mix of long and short positions as we head into the close of trading today. One of my short positions is Planet Fitness. It's absurd for this stock to be trading at 50+ P/E and 100+ forward P/E with new coronavirus cases starting to go exponential again. This is well above the multiple that PLNT usually trades at. PLNT has a high put/call ratio today, suggesting that sentiment on the stock is very negative. It also has a -60% ESP from Zacks, which means it's likely to miss on its next earnings report. It's sitting at support right now, but that may break if the market stays weak. PLNT is frankly due a correction down to at least 60 or so.
NYSE:PLNTShort
by ChristopherCarrollSmith
Planet Fitness Options PlayEasy Loot Options Signal | Estimated time: 2 Weeks Inside the Easy Loot options chat, we're looking at 2 contracts to play Planet Fitness. The first play will be quite accurate & is based on Technical, the second play is also somewhat played on Technical but is very far otm. These are not suggestions, always do your own research before dealing with any type of investment. The Easy Loot Play: PLNT CALL $80 Strike 6/19 @ $55 Want to play it safer? Add a month of time to this play by grabbing the Jul 17th contract. DotcomJack | Direct message me for any support or guidance!
NYSE:PLNTLong
by DotcomJack
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