AMZN among other FAANG stocks have been on a tear. I like AMZN long, honestly believe it should be going up. That being said, Between Gov'ts complaints against Google, and Nancy P. dead lining a stimulus
package to be met by today (which will never happen), I believe this in and of it self is going to cause turbulence in the market. The good thing above AMZN being such a big stock is that it makes big moves. I don't believe there was ever going to be approval of Stimulus but Nancy P. had to make it seem like she was trying. You do want to be cautious on this trade, I placed 3152 as a stop loss, honestly there's probably a little more wiggle room then that. Ideally if you can scoop a Put while AMZN is in the green this morning just outside the money, look to exit by tomorrow. Depending on market reaction to lack of stimulus. I've laid out a target exit, if it drops below easily, never hurts to hang on for more gains but labeled a hard out. GLTA
Looking for a double up here
package to be met by today (which will never happen), I believe this in and of it self is going to cause turbulence in the market. The good thing above AMZN being such a big stock is that it makes big moves. I don't believe there was ever going to be approval of Stimulus but Nancy P. had to make it seem like she was trying. You do want to be cautious on this trade, I placed 3152 as a stop loss, honestly there's probably a little more wiggle room then that. Ideally if you can scoop a Put while AMZN is in the green this morning just outside the money, look to exit by tomorrow. Depending on market reaction to lack of stimulus. I've laid out a target exit, if it drops below easily, never hurts to hang on for more gains but labeled a hard out. GLTA
Looking for a double up here
So we will close these Puts for EASY 1 Day Money, and possibly consider buying Calls on the same expiration. Catching AMZN down at -1.50% - 2% would be the ideal buying position on the flip play here today. Calls expiring in Days.
After Netflix got killed in Earnings, and Snap blowing it out of the water. FAANG in general is moving in both directions. That being said Tesla reports after the bell with options strongly favoring the beat. I think this is a great play with less exposure. Snap is driving FB up. Netflix will drop today but probably stabilize by tomorrow. With TSLA earnings I expect a large move one way or the other. And odds are on the upside, but I made A LOT of money when TSLA announced the split through the highs, since then TSLA has been my "unlucky" stock. But that's ok, the secret to successful investing is simple....As long as your Wins out weigh your Losses, you will be make money, if there was a simple formula everyone would do it, and we would all be rich, but there isn't. So you have to accept there are times you will get it right and WIN BIG, and there are times where you'll LOOSE BIG. But I believe the market has officially factored in the fact that we wont be getting any stimulus (although if we did this would def boost the market, so there's really no downside there).
ALSO- I have said it once but I will say it again MGI, money gram is reporting earnings in 9 Days, these are very inexpensive options, and yes the stock has been on a tear as of late. Beyond BLOW OUT EARNINGS, which I'm expecting. I think we might get some other news too, just a hunch. It might not hurt to pick up the monthly calls at 4 or 5, because either way, I think there could be massive upside up ahead.