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).