Like MJ sector two weeks ago, XOP is close to a breakout after a double bottom. The only question is will there be a handle or shoot straight up.
Bullish pennant on the shorter TF for $XOP with confluence at weekly support for the pennant target which shows an amazing R:R for a long opportunity. But, being that this ETF is fundamentally bearish because of current concerns for the new virus strain and the fact that technically this is still bearish on the weekly, Ill be setting first target to top of...
EARNINGS ANNOUNCEMENT-RELATED VOLATILITY CONTRACTION PLAYS (IN ORDER OF ANNOUNCEMENT): Here are the options-liquid underlyings announcing next week that I've culled down to 30-day >50% as candidates for volatility contraction plays: LEN (21/49/11.6%),* announcing Wednesday after market close MU (24/52/12.2%), announcing Wednesday (no time specified) FDX...
The bottoming clues were there. Good volume buying bars, lower selling bars, relative strength as price was falling. I dont normally play these, but but the R/R was there.
From the NYT : "Under the agreement, members of the Organization of the Petroleum Exporting Countries along with Russia and other countries will increase production by 500,000 barrels a day in January and, potentially, by a similar amount in the following months. The increase, less than 1 percent of the global oil market" From WSJ : "The price rout has also laid...
EARNINGS: It's a light week for earnings announcements, which means it's an even lighter week for options liquid underlyings, none of which meet my cut-off for 30-day implied >50%. EXCHANGE-TRADED FUNDS RANKED BY PERCENTAGE THE JANUARY AT THE MONEY SHORT STRADDLE IS PAYING AS A FUNCTION OF STOCK PRICE: XOP (18/59/15.8%) GDXJ (16/42/13.2%) XLE (26/46/11.6%) KRE...
Might see a short-term jump here . Just an idea. This oil pump could reverse in a flash with bad vaccine or lockdown news.
EARNINGS-RELATED VOLATILITY CONTRACTION PLAYS: LB (7/69/16.0%):* Announcing Wednesday after market close. ARMK (11/56/13.1%): Announcing Tuesday before market open. TGT (30/39/8.6%): Announcing Wednesday before market open. Honorable Mentions: LOW (23/39/8.6%): Announcing Wednesday before market open. HD (17/31/6.7%): Announcing Tuesday before market open. WMT...
The energy pack broke out of a multi-month downtrend, and pierced through anchored quarterly VWAP and it's 1 stdev. After a strong move, it's doing what bulls want it to do - after strong candle 1 and 4, retracing from 2nd Stdev before the next leg up. Expect continuation of the TD sequential. Target 59-60 to profit take, its immediate support at 47, strong...
EARNINGS ANNOUNCEMENT VOLATILITY CONTRACTION PLAYS: WKHS (18/146/38.8%),* Monday, before market open. PLUG (32/100/25.6%), Monday, before market open. DKNG (32/89/23.6%), Friday, before market open. CGC (39/132/23.5%), Monday, before market open. BYND (32/77/18.9%), Monday, after market close. LYFT (16/71/18.0%), Tuesday after market close. Pictured here is a...
EARNINGS ANNOUNCEMENT VOLATILITY CONTRACTION PLAYS: ... Screened for options liquidity and 30-day implied greater than 50% and ranked by "bang for your buck": ROKU (38/31/16.4%),* announcing Thursday after market close. WYNN (27/76/14.7%), announcing Wednesday (no time specified). SQ (43/74/14.3%), announcing Thursday after market close. PYPL (56/60/11.6%),...
Exxon posts lighter than expected Q3 loss, slashes 2021 capex plan - seekingalpha.com Was thinking this might drop below $30 on this ER but its been holding up. Looking for a swing back up near $34-$38 range.
Consolidated into triangle in August/September, which has broken down. Failed to get a golden cross. Possible run towards 26-28 area which is major area $USO $XLE $XOM $CVX $XOP $GUSH $DRIP $SPY #Oil #CrudeOil #OOTT 🛢️
EARNINGS: If you like to play earnings for volatility contraction, there are a ton this coming week. Here are the ones that made my cut for volatility contraction plays based on options liquidity and bang for your buck as a function of stock price: TWTR (49/73/15.9%),* announcing Thursday after market close. MGM (16/69/15.2%), announcing Thursday before market...
EARNINGS: Got a bunch of potentially worthwhile, earnings announcement volatility contraction plays on tap this coming week. Here there are, ordered by "bang for your buck": AAL (29/99/19.7%), announcing Thursday before market open: Due to its size, I would probably go short straddle or iron fly, with the November 20th 12 short straddle paying 2.46 (19.7% as a...
EARNINGS: There are four options highly liquid underlyings that pop up on my screener for next week with 30-day implied of >50%: UAL (23/88/22.6%)* (on Wednesday after market close); DAL (13/74/19.1%) (Tuesday before market open); SLV (18/59/16.4%) (Friday, before market open), and WBA (43/54/12.2%) (Thursday, before market open). Pictured here is a...
EARNINGS ANNOUNCEMENT VOLATILITY CONTRACTION PLAYS: MU (27/57/10.8%)*, announces Tuesday after market close. BBBY (32/105/20.2%), announcement Thursday before market open. Pictured here is an MU October 16th 44/55 short strangle, paying 1.52 as of Friday's close (.76 at 50% max). For those of a defined risk bent: the MU October 16th 40/45/52.5/57.5 iron condor...
A late "Week Ahead" post after a short road trip ... . EARNINGS: There aren't many options liquid underlying volatility contraction plays on tap this week. COST (35/38/6.8% (October)-10.1% (November) announces on Thursday after market close, but the volatility metrics aren't the greatest for a contraction play with 30-day at 38, the October monthly at...