MMM - due for a healthy pullback?
I like the recent run up but did it go too far, too quickly? I think so. From a simple perspective, this stock is approximately 27% above the 200-day MA (looking at a year chart). This is by far the farthest it's been away from the 200-day (up or down) this year. On a two year chart, the farthest it got away from the 200-day was around the 27% range. At that time, it was the below the 200-day and moved up nicely.
Never a fan when stable companies get too far away from the 200-day on a yearly chart. I like this as a short term play. I actually went with a straddle because the data I found below.
ASK IV is 18.24 with historical IV being at 39.13
I am not an attorney, accountant or financial advisor, nor am I holding myself out to be, and the information contained in this post is not a substitute for financial advice from a professional who is aware of the facts and circumstances of your individual situation.
Never a fan when stable companies get too far away from the 200-day on a yearly chart. I like this as a short term play. I actually went with a straddle because the data I found below.
ASK IV is 18.24 with historical IV being at 39.13
I am not an attorney, accountant or financial advisor, nor am I holding myself out to be, and the information contained in this post is not a substitute for financial advice from a professional who is aware of the facts and circumstances of your individual situation.
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