$IBM looks to be setting up for a sharp move that I will try to profit via an out of the money options trade. I think this move will occur in the coming weeks.
$IBM is putting in a nice bear flag. In this stock market bearish patterns seem to have less validity, but I feel pretty confident about making this trade.
I think when all is said and done $IBM will be under $150 before finding a meaningful bottom.
$IBM $157.50 December monthly puts $.76
