Heavy Put/Call Ratios

You can find a trade in the darndest places, like a high Put/Call ratio in PETM.  With a put/call of 20.8 on Thursday, I had to see why.  No earnings.  No bad news; its more technical than that.   Not only does the MACD Histogram have negative divergence [smaller with each attempt as price went higher] but its formed a fat rising wedge and if you look closely at the Bollinger Bands, they became smaller with each expansion.  All signs of impending failure.  Given the thin holiday trading, anything is possible but I like the risk here to short at the open or premarket risking only .50 cents with a target of $24 for over 10% gain

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