Sadly did not publish before executing on this play. Payment processing companies across the board (SQ, V, AMEX, SHOP) were under fire, along with the overall market decline. I believe much like my other moves over the past couple weeks (XLF, CHGG, KLAC) this sector was also overly beaten down, and should outperform the market in the short term until balance has been restored. Have been holding Nov 16th PYPLc80 for two weeks and intended to hold through earnings. Given their earnings beat and strong guidance and my general attitude on a overly done correction I am looking to take profits within the next week or two. Also great performance on VENMO and really enjoyed the increase in monetization (24% vs 17% of users used monetizable features). A strong metric not only for growth but also commitment. I see more upside still, price target $88.
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Closed my Nov16c80 224% ROI