Ronin_trader

ATVI Bearish inclined Naked Calls 29 Oct Expiry (Oct Track 1)

Short
NASDAQ:ATVI   Activision Blizzard, Inc
I just realised I forgot to enter this trade. My thoughts below was written 28 Sep

Whats The Plan/Trade/Thought
  • Forced, Because I need to hit the 5% target
  • I don't have much options, this feels risky. I need to spend time coming up with proper ideas.
  • I feel lazy and that I need to be serious since I am doing this full time
  • ATVI looking at it as it is going down. There is a recent pull back but it is still bearish .
  • ATVI has been moving the opposite of the Index or the VXX . It was also impacted by Evergrande's drop. But only recovered slightly with the market bounced
  • If anything I see ATVI ranging near term

    Imagine Yourself Taking The Other Side
  • Do I need this trade? Since you feel it is forced and that you did not put in effort
  • What if it rebounds up? Their last earnings was higher than the estimates
  • Christmas is coming, this can boast interest in the stock

    Imagine Yourself As A Neutral Observer
  • The Other Side, also feels convinced that ATVI is bearish
  • The key issue feels like no prep was done and it is a forced trade. I am not being professional
  • Other Competitors in this space like EA have similar down trends (Feels like a sector drop)

    Look For New Information
  • Recently ATVI has negative news on the workplace culture and discrimination

    How Do I Feel Now
  • This is not a company that will fail entirely near term due to it's strong gaming titles that has a strong following.
  • This is probably the last time I can/should trade this bearish move


    Trade Specs
  • Sold 80 CALLS @ 0.50 Strike 84
  • % to Strike is 8.9%
  • ATR % is slightly on the high side at 60%
  • Max Gain: est $4000
Trade closed: target reached: Yatta!