Tony Zhang says the market still does not favor high beta growth stocks especially since reactions after solid earnings reports have shown to be disappointing. Tony is taking a defensive position on ETSY prior to the earnings release. He sets up a long put spread for June which pays a 1.5 to 1 return on risk. Tony also says a trader could deploy a sold short call vertical for credit which is a higher probability lower return on risk setup.
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05 May 2021
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