Arcimoto Inc. stock trades under the ticker FUV & closed for trading at $16 on 11/19/2020.
This morning in the pre-market it has shed 10% of its price, dropping to $14.35, opening up for a potential short-term trade opportunity.
While this mornings drop is likely the result of a blend of trimming after a 69%+ gain day & macro-market conditions pointing lower, FUV stock has displayed steady growth since May 2020.
FUV Stock Price: $16.00
10 Day Moving-Average: $7.15
50 Day Moving-Average: $6.42
200 Day Moving-Average: $4.25
RSI: 75
For traders interested in the common shares, today may not be the best pullback to buy into, but looking at the charts should help you determine the right amount of risk there.
From an options perspective, the 12/18 $15 calls may carry more risk than is worth taking, so I may think to look at the $12.50’s or the $10’s.
The puts on the other hand look much cheaper than the calls, with the at-the-money $15’s marked only at $3.95 (before the market opens, this should change upon the open), which may offer an opportunity for a few extra percentage points for a quick trade on today’s weakness.
All-in-all, FUV stock & options should look to give traders some great opportunity for a short-term trade.
*** I DO NOT OWN SHARES OF FUV STOCK ***