Idea: Short $IBB

Reasoning: Stretched Sentiment (SZO) and Volume (VZO).

Current Price: $297.92

Target Price: $290 in 2-7 days from today

TRADE UPDATE (Aug 8th):

We closed our position when $IBB hit $294 today. We believe it could go down further but we decided to take profits here (since we bought puts and they could lose money form time decay).

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