BEAV at Resistance pre-Earnings

12 Jul 2016

I'm playing BEAV short into earnings. Price reached a Weekly + Daily resistance at 46.37 today where I bought October 45 Single Puts. With the market going up IV is cheap across the board to go for the Singles rather than vertical spreads. Seasonality has BEAV going down in August and for the year thus far it has been following seasonal predictions by having bullish months in February, March, and April followed by a consolidating May and then a bearish June.