NASDAQ:AMD   Advanced Micro Devices Inc
Trade details on chart, looking to capitalize on my #moneybothways type of trading on certain stocks. Rode AMD from 9.55 to 17.15 on some call options, already booked over 200% on some JUL 20 16 puts that I bought as soon as I sold my calls. Sold those puts when stock price was 14.85. Out at the moment, looking to pick my punch here for the C wave as my personal analysis shows. Good luck to all.
Comment: Booked 18 JUL 27 P14 just after open this morning. GLTA!

Comments

Did you counted AMD's quarter financial report when you buy your put? The strategy seems missing some elements. A ratio spread / diagonal spread seems more reasonable to me, as current options are overpriced with the extra high volatility recently before earnings. Put call makes a bit sense, but is a little bit too bold for my taste. I would rather sell options, either call or put, rather than buying, at such high IV :)
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@zhuolij, Yes I did. I options trade very aggressively, especially when trying to time the corrective move of an uptrend. I love AMD stock, btw. I rode from 9.55 to 17.15 just long the stock. Will most likely rebuy long if my target is achieved, whether that be prior to ER or after a drop post ER. Good luck!
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Actually, you've mapped a perfect elliot wave, but according to your prediction this will be an upward trend.
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@Adama14, Yeah, the uptrend will most likely continue IMO, but not before wave C down. Again, just my view, but I did open the 18 JUL 27 P14 at open this morning. Good luck!
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That's what it looks like to me....Head and shoulders, going down some more, waiting for the entry price below 14-15.
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@Adama14, And btw the I didn't just pick a number out of thin air, the target shown is the .5 fib retracement of the Impulse wave up, which, along with the .618, are common A-B-C corrective wave targets prior to reentry long. Best wishes on your trades!
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I entered puts today actually. 12’s would be amazing!
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Adama14 RossDrennan
@RossDrennan, Bold
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@RossDrennan, Best of luck to you!
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