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Trade Idea in Zoom Video (ZM)

by | Jul 18, 2021

Zoom Video (ZM) shares pulling back just above the rising 50-MA, the top of March value, and recent four-month base breakout setting up a nice risk/reward for a run back near the highs for the year. ZM made a huge run in 2020 up to $550 and pulled back to the 50% retracement where it has consolidated for much of 2021 and recently forming the right side of a broader basing pattern. A move above $400 has room to $450 and then ultimate back near those prior highs. ZM has seen buyers in the August $500 calls recently, over 5000X, while the September $400 puts sold to open in size. The February 2022, June 2022 and January 2023 options also active with bullish flows.

Trade to Consider: Long the ZM September $400/$450 Call Spread for $9 or Better

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