Surgalign Holdings, Inc. stock closed at $2.31/share on 2/3/2021, after completing a bullish MACD crossover, jumping nearly 15% on the day.
Surgalign’s ticker is SRGA, and they’re worth examining more from a short-term trade perspective, as this recent momentum looks to carry them a bit further in price.
SRGA Stock Price: $2.31
10 Day Moving-Average: $1.94
50 Day Moving-Average: $2.23
200 Day Moving-Average: $2.39
RSI: 59
With an about average RSI, there still looks to be more room to run for SRGA stock.
SRGA has options, with the $2.50 calls being about at-the-money, and the next highest strike price being $5.
SRGA puts are interesting, as unless you purchase a $2.50 long put, there doesn’t seem to be much opportunity for profit.
Selling any of the puts is currently a risk for assignment, as all of their strike prices are in-the-money, and if you sold a $5 one & made the $303 premium (based on closing prices yesterday), you are still down $197.
Selling the $2.50 strike put will yield profit, but it requires an 8% further gain in the coming two weeks, which may not sustain given overall market shakiness.
Overall though, SRGA stock & options are worth taking a closer look at from a short-term trading perspective.
*** I DO NOT OWN SHARES OF SRGA STOCK ***