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
Looking at some multiple argument resitance ahead of MU price.
25/26 Bull Put Spread from earlier this week plays out nicely. Didn´t get filled on the second wing of the proposed Iron Condor so now waiting for price to rally into this resitance area and they open a Bear Put Spread
Earnins were 14% bettern than expected. Last time earnings were better than expected LULU made 20% profit in less than a year!
Here, price bounces out of support area. Implied volatility rasies, almost 30%. If the Gap partially closes next week I expect IV to grow even further and potentially provide some noce premium to collect on selling calls below the support are
Trade Setup:
-1 SPY May 19 225/235/236/245 Synthetic Strangle @ $5.51
DTE: 56
Max Win: $551
Max Loss: $449
Breakevens: $229.49 & $241.51
Trade Management: 25% winner; full loser. Will take off a side if nearly worthless; Will roll put out if ITM at expiration.
Green is profit zone; Vertical black bar is expiration.
Trade Setup:
-1 MU May 19 23/29/29/35 Synthetic Straddle @ $3.01
DTE: 56
Max Win: $301
Max Loss: $299
Breakevens: $25.99 & $32.01
Trade Management: 25% profit; Full loser, will roll out short put spread if ITM at expiration.
Green is profit zone; Vertical black bar is expiration.
Getting my # of occurrences in a small account. SPY has been on a tear lately and want to capture a bit of the upside, without any risk to the downside.
Trade Setup:
-1 SPY Mar 17 236/237/237/239 Call Butterfly @ 0.19
DTE: 29
Max Win: $119
Max Loss: $81
Breakeven: $238.19
Trade Management: Best case scenario, SPY trades around 237 near March expiration for ...
Still looking for any IV in the market - XRT had a 35 IVP, so I thought I would put something small on. Focused on minimal BP exposure during these tough times in IV, but I have to keep a decent # of occurrences up regardless.
Trade Setup:
- 1 XRT Mar 17 42/44/44/46 Ironfly @ $1.34
DTE: 30
Max Win: $134
Max Loss: $66
Breakevens: 42.66 and 45.34
Trade ...
Just looking for some premium around the market on these up days. Found an "okay" IV in FXE.
Trade setup:
- 1 FXE Mar 17 101/103/103/105 Iron Fly @ 1.37
DTE: 32
Max Win: $137
Max Loss: $63
Trade Management: 25% Winner or ~ $35; Full loser or will roll out ITM/tested side if on the dance floor.
Green is profit zone and vertical black line represents expiration.
Crude is nearing the target of 52 after the breakout of the triangle after the OPEC meeting a couple weeks ago.
RSI and Stochastik are now very much overbought and even generated some sell signals. Also, as of now, there is a divergence in stochastik and RSI indicating the market is due for a correction sideways or lower. Without any fundamental news a correction ...
Market has been narrowing awaiting the OPEC meeting. Trading volume has declined going into tighter trading ranges (red triangle). This is a great example for a symmetric triangle. Breakout direction to be determined.
Also, the greater picture shows a slowing uptrend leading into a very long term triangle. Patience is required.
My bias would be leading to the ...
Expecting slowdown of recent rally after breaking out of the downtrend channel two weeks ago.
RSI, Stochastik are overbought and Bollinger Bands indicate a slowdown in the recent move.
Also, middle to end of August is a seasonal which was confirmed now.
Options to work IMHO: sell call spreads
Downtrend has established after topping at 50.
The 200 day MA (yellow) provided some support for now, but on the upside the 7 day MA (red) acts as resistance in this downtrend channel.
I am looking for another test of the lows at 39. Further support comes in at 36 then 33.
Option idea to consider IMHO:
as we near upper trend line: --> sell call spreads and ...
