CHWY Collapse

Sep 12, 2019

Looks like a failed IPO, earnings next week, could break support before then...

Just watching it for now, but feeling bearish....

Sep 13, 2019

Note

Looks to me like it's gonna sit at support until earnings. Will make a huge move, probably 20%. Options are priced in for that huge move, so there's no good play unless you can guess the direction.

I expect huge revenue growth, the question is profit... or loss.

Sep 16, 2019

Note

Looks like I was right Friday, bounced off of support.

Sep 17, 2019

Note

Would appear to have broken support on earnings. I didn't think it was that bad, but not much growth Q/Q.

Sep 20, 2019

Note

Should really learn to put personal feelings aside and play the chart pattern. Obviously broke support, should have bought some puts. Oh well.

I buy stuff from them, it's a good company, but looking over financials, SGA costs are rising faster than gross profits. Can't make a profit that way, and very little Q/Q growth.

From a chart standpoint, looks like it will bounce at $25, but there's no guarantee.

Oct 1, 2019

Trade closed manually

I guess I forgot to post that I bought some puts last week, closed them out today for a nice gain