This one STILL appears to be in a wave 4 and should slowly grind higher... :-)
Buy low, sell high on this one. Sideways to choppy. there is some put sale prem as well down here, but I'm out of BP for that. So, let's ride it. I'll post my unravel / exit plan later. :-)
This is over earnings. Make sure you know how to protect against a STRONG gap down if it happens. It's below the 200 SMA. Expecting this recent bear gap to hopefully fill soon. AAPL does look QUITE bullish on the weekly.
I simply think BABA is consolidating up here around this ATH area after some STRONG bullish moves, it needs to rest and trade sideways for a bit.
With the upmove experienced in the broader markets on Friday, coupled with S&P futures moving 30 handles higher in low volume, U.S. market holiday conditions, look to sell on strength on Tuesday NY open via SPY, QQQ, IWM, and/or DIA short call credit spreads. I have a wide variety of index ETF setups on at various expirations, but my primary focus will be on...
As with playing the underlying directly, sometimes it pays to watch levels in a given underlying for options setups as well and to abide by the whole trading adage: "Sell on strength; buy on weakness." In this particular case, I'm looking to sell short call vertical credit spreads on strength and sell short put vertical credit spreads on weakness and am keeping...
My little YUM saga continues and is likely to do so for the next several options cycles, but this is a good lesson on how to manage earnings plays (or any other play for that matter) where a side of your set-up is breached either to mitigate your loss on the setup or turn it into an eventual winner. Of course, this requires a degree of patience, since it...
Nice candles and a strong break above resistance. Should continue higher and the EMA'S should provide some cushion.
Well it looks like the market finally SOLD OFF like i how i predicted, but it did not SELL OFF like i wanted it to do so. Looking at this market from a WEEKLY chart it seems like the sell off may be ending sooner than expected. HOWEVER, that does not mean that the market will retrace right back up as quickly as it descended, nor does it mean that it will not...