ASML is a buy at $679 on high time frame. bounced on the .618 fib and the weekly candle upward parallel channel bottom. on the monthly candle chart, the 50 ema provided a bounce. this all happened in the last 2 trading days. opportunity is ripe. high time frame play. long to 800+
ASML had heavy bullish option activity reported on 11/18 with many PUT contracts hitting at or near the BID. One such contract was the $660 strike expiring TODAY (11/22/24). Now, there is the matter of these potentially being a hedge against a net-short equity position on the underlying; a theory that gains weight because of the trending growth in the short interest over the past three months. This means, however, that there may be a further unwinding of that net-short position to balance the delta which could bid up the stock today.