SQ has been going down almost every day since we shorted it (bought puts) on May 22nd. The return on our put is approaching 50% after just over one week, but they have 112 days until expiration and can run much higher. For anyone procrastinating, it's not to late. SQ Don't be surprised if what I've labeled as Wave 5 turns into an extended Wave 3 before the true extent of this leg down completely unfolds. Target remains below $40. SQ Sep 20th $65P
