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Hawk’s Nest

Bears Position for Downside in China Travel Name

by | Jul 18, 2022

Trip.com (TCOM) seeing 1250 August $31 puts open $5.20, some concerns with rising COVID cases and more lockdowns. These deeper ITM puts may potentially be betting on a break in trend from the recent upside move off May lows. TCOM seeing a bearish selling candle Monday off the 26.50 level with the market reversing lower and if it slips under 24.50 the stock is vulnerable to a move back to 21.