Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
On CNBC's "Options Action," Tony Zhang said there is a potential downside in Okta Inc (NASDAQ:OKTA).
The stock is trading in a very wide range between $210 and $290, it has underperformed its sector and recently it recorded some lower highs. It also had a strong last week, which Zhang sees as an opportunity to look for some short exposure. He expects the stock to test its support at $210.
To make a bearish bet, Zhang wants to buy the August $220/$190 put spread for a total cost of $8.60. The trade breaks even at $211.40 or 6.62% below the closing price on Friday. If the stock drops at least 16%, to $190 or lower, the trade is going to reach its maximal profit of $21.40.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!