Driven Brands DRVN Stock & Option Trade Ideas

Based on the technical data for DRVN, the stock is currently in a bearish trend:

• The Moving Average Convergence Divergence (MACD) is consistently below the signal line, indicating a bearish momentum.
• The Relative Strength Index (RSI) is below 50, suggesting a bearish sentiment.
• The stock price is below the middle Bollinger Band, further supporting a bearish outlook.

Considering the bearish trend, here are some potential stock and option trading strategies for DRVN:

• Stock Trading:
• Short selling DRVN stock: Traders can consider shorting DRVN stock with a target price below the lower Bollinger Band.
• Setting stop-loss orders: To manage risk, traders can set stop-loss orders above key resistance levels.
• Option Trading:
• Buying put options: Traders can buy put options on DRVN with a strike price below the current stock price and an expiration date that aligns with the expected bearish trend continuation.
• Selling call options: Another strategy is to sell call options on DRVN to benefit from the bearish sentiment and earn premium income.