Purchase Put on VTL

Today we are going to purchase a put on VTL.

VTL therapies reported a Q2 loss but slightly beat expectations so the stock is climbing erroneously. Lets look at the chart:

You can see that today's candle has a top tail. This combined with the semi poor results should have this stock deflating a bit over the next day or two. Surprisingly, the option prices were rather high for August, which expires in three weeks. Below is our in:

I am still checking around for today. It doesn't look at though there is any strong buy or sell signals for the QQQ and SPY, however I expect them both to drop tomorrow. I will explain why in a later post today.

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