NIO Limited stock trades under the ticker NIO & has recently displayed technical traits worth taking a closer look at for a short-to-medium-term tade opportunity.
After a gap up on 10/14/2020 they have had an unstable performance, where the $28.48-$29.40 level is the resistance.
NIO stock has options available to traders, and I would be looking at the $28 puts for 10/30.
NIO Stock Price: $28.44
10 Day Moving-Average: $26.87
50 Day Moving-Average: $20.35
200 Day Moving-Average: $9.54
RSI: 63
For NIO calls, the Delta of the $27 options is 0.76, while the $28’s is 0.59.
In pre-market trading they’re down 2.5% to $27.76 (at the time of writing this), making the $27 calls worth looking into for the near-term expiration date (10/30).
Looking out further, the puts will likely outperform in the following week to two weeks, given the expected volatility & unrest from the election.
*** I DO NOT OWN SHARES OF NIO STOCK ***