FCX contra resistencia de la cuña bajista de corto plazo que se mueve dentro de un movimiento bajista de más largo plazo.
Mientras mantenga la zona de 10.20/10.10 aún quedarán chances de romper al alza para ir a buscar los 12/12.15. Si no puede mantenerse por encima de este soporte inmediato, es muy probable que vaya a la zona de soportes de mayor importancia en...
Pictured here is the only earnings announcement-related volatility contraction play with the metrics I'm looking for: greater than 70% rank and greater than 50% 30-day (it was 68/55 as of Friday close). Setup Metrics: 3.40 credit, break evens at 20.60/27.40, -8.20 delta, 3.1 theta.
Obvious alternatives would be the April 18th 21/27 short strangle paying 1.21...
FCX is approaching our first resistance at 13.62 (horizontal pullback resistance, 61.8% fibonacci extension, 38.2% Fibonacci retracement) where a strong drop might occur below this level to our major support at 11.53 (horizontal swing low support, 50% fibonacci retracement).
Stochastic (55,5,3) is also approaching resistance where we might see a corresponding...
... for a 1.90/contract credit.
Max Profit: $190/contract
Max Loss/Buying Power Effect: Undefined/~$260 (on margin); full notional (cash secured)
Break Evens: 11.10/14.90
Notes: Implied volatility's still pretty high post-earnings at 42%, so taking a modestly bullish assumption shot with a position that emulates the delta...
The only underlying that interests me for an earnings announcement-related volatility contraction play this coming week is TWTR (62/67).
March 15th 28/38 Short Strangle (Pictured): 1.73 credit (.87 at 50% max), break evens at 26.27/39.73, -8.98 delta, 4.78 theta.
March 15th 25/28/38/41 Iron Condor: 1.01 credit (.50 at 50% max),...
In the weeks to come, it looks like FCX is setting up for a major bottom akin to the preciohs metals miners imo.
The monthly stochastics is still down, so one for the watchlist. Price action looking good so far…
This chart is meant to show direction, potential target and stop loss.
AUDUSD bullish set up:
- Strong break above resistance (MAs).
- MACD bullish crossover.
- Bullish RSI.
If you would like to see all details for this trade: entry, target and stop loss... Leave me a message and a like.
Thanks a lot for reading.
After a short break for shortened trading weeks for the Christmas and New Year's holidays (how bout them holiday markets, huh?), I'm back to my regular routine. Here's what's on tap for the coming week ... .
I'm not seeing much on the earnings front for volatility contraction plays or premium plays in high implied volatility around earnings that are...
EARNINGS WITH A RANK >70/IMPLIED >50:
CRM (81/52): Announces on Tuesday after market close. The pictured defined risk setup pays a greater than a one-third of the wing width 1.89 with break evens between the expected and one standard deevy.
ANF (68/86): Announces Thursday before market open. The Dec 21st 16 short straddle was paying 3.04 as of Friday close;...