brianweber
Long

My analysis on SQ leading up to earnings

NYSE:SQ   SQUARE, INC. CLASS A
The overall market finally pulled back bringing most stocks with it. I expect SQ to trade lower with Feb 2's candle.

If we make it down to the 100 day SMA and/or the lower trendline , I will buy more shares. This would require support to fail at the 50 day moving average ( SMA or EMA ). Play the bounce accordingly as well if we trade down to the 50 day SMA or EMA for shorter term trades.

Earnings is on February 27, 2018 after market close. I plan on holding through earnings as SQ is a company I believe in and love their product/business model.

I have $46 and $50 strikes covered calls for regular February expiry. If I see significant downside coming, I will buy 3 x $48 16 March 2018 puts to protect my investment.

My current Leap Call Diagonal ( LCD ) spread has a max profit at a share price of $43 for regular February expiry. However, if I see there is significant downside coming, I plan to buy 1 x $40 16 March 2018 put to protect my LCD position.
Trade active: Purchased puts to cover my LCD and shares positions.
Comment: Looks like we should open tomorrow in the green box. My ideal spot to buy more shares is off the lower trend line and/or the 100 day SMA (blue line).
Trade closed manually: Closed the LCD for a little over 1R gain. Will look to pick up more shares off the lower trendline/100 day sma. If we break the trendline, I plan to sell some puts for a strike of $30 or less.

Earnings is on February 28.
Comment: Setting a limit buy at $37.50 for 100 more shares.
Comment: Covered calls expired worthless today!! Free $200
Nice and great input I have 46,47,49,49C for March 16
+3 Reply
brianweber bolillo720
@bolillo720, are you long 4 different strikes in calls, or did you sell covered calls?
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bolillo720 brianweber
@brianweber, Long Calls
+1 Reply
brianweber bolillo720
@bolillo720, nice. Good luck!! By end of this year, I can see the share price being around $55 or higher especially if earnings are strong
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