I like this high wave candle for a break higher from the last two day highs. Also need to break the June 4 high and June 5 low.
Let's see what happens :)
Sold x2 naked puts at the $43 strike for this week's expiration. SQ is gapping down, but should see support in the $45 area. If $45 is lost, that lower trend line will most certainly be tested. I expect a bounce there unless the market completely rolls over.
FYI I don't mind owning shares of SQ long term since I'm confident the stock will rebound.
Cheers!
Sell to Open PEP Jun 95 Put @1.59
Basis: 93.41
Return on Basis: 1.7%
Return With 50% Margin: 3.4%
Portfolio Margin on 10% Drop: $2,548
Return on PM: 6.24%
If assigned, then sell calls. Pull in a dividend of 0.80 to cut basis down to 92.61. Then sell a call for $1.00 and you're down to 91.61.
I think I did the math right.
Price reacted perfectly to upper MN/WK supply zone, created all time low after earnings yesterday, new WK supply zone setting up for another short, though will be careful at all time lows, maybe less risk if price reaches up there.
WK rallied creating a bullish engulfing pattern, paused, long taken at that point, and now rallying again.
This is confirmation of the 3M and MN demand zones price barely touched before beginning to rally.
Calls on this one, take profit around 31.25 or so.
New areas being created, long bias.
Right now we are holding the 50 day sma on daily and previous support at $47.61, which is also the 50% of the most recent measured move.
Purple line: what I am looking to see is if we hold here, consolidate then move higher. However, $49.56 is a resistance SQ needs to close above before continue back north of $50.
Orange line: we fail the 50% fib and test the ...
Sprint #S american stock long term longs at monthly demand zone around 3.59 dollars. Very strong monthly demand level at all time lows, planning ownership of the stock at that strong monthly demand imbalance. Adding a long put option as protection is the way to go
Forgot to post this yesterday, but we have been in this trade since Friday with some puts trying to ride this market during this large pullback. I am still going to post this because even with this bounce today I still think it has more room to fall.
Last week there was a huge turning point in momentum and the selling volume started to pick up. With the signs of ...
Sell the $155 put for February for $0.55 or higher. Looks like it will be close if the market keeps selling off.
There is support around $160 at the 200 day SMA.
To take advantage of the high volatility and minimize the downside risk as much as possible, I plan on selling a 1097.5/1100 BPS over earnings for $0.40 or better.
The expected move according to ThinkOrSwim is ~$55.
Let's go GOOGL!!!
To take advantage of the high volatility, I plan on selling a naked put over earnings for either the $155 or $157.5 strike price for this Friday's expiration (February 2). Most likely the $157.5 strike for around $0.80.
A less riskier option (no pun intended) is to sell a BPS about $10 below the closing price for the same February 2 expiration.
If I get put the ...
Trade details:
47/42 Put Vertical Credit Spread @ $0.98
Prob. of Max Profit = 69.49%
Prob. of Max Loss = 13.53%
Break-even @ $46.02
114 D.T.E.
Trade plan:
Similar bias as NVDA trade (check it out below).
Entry by oversold + support/resistance analysis
Expecting $48.00 support level to survive possible test before earnings report in Feb.'18 for an uptrend ...
GOOG has closed upwards of $1,054, forming a nice bullish candlestick!
So, despite the great candlestick formation, there are some worrisome signs brewing in the Bond & Gold Markets, as well as in the Volatility Index.
This means that if investors start heading towards safe havens like these, the stock market should take a pause and/or pull back.
As a result, ...
Oracle ORCL American Stock long bias at weekly demand zone 45.50. Waiting for a retracement at weekly demand level in order to go long on this american stock
FOXF breaking higher, longs at weekly demand and monthly demand zones around 33 and 27.50 price areas. Clear bullish bias with new demand imbalances and levels being created.
IWM got rejected out of a resitance zone that is form by:
Last downswing 26.04 - 18.05 - Fib inverse 1.113 extention
Wave 3 - 1.272 Fib extention
Wave 4 - 1.618 Fib inverse extention
I wish the premium would be higher, with a VIX that low selling premium is just not worth it. So lets look at some put spreads
