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The last time X trended REALLY WELL bullish was back in 2014. (and yes, I traded that). So now, the red boxes are the exact same size. I'm personally expecting X to go a tad higher before a large pull back OR a sideways move...
LULU has been in a VERY nice consolidation recently. Likely the earnings gap will change that. If LULU opens in the green zone, I'll be watching to buy a bounce or dip BUT, I would expect a higher move.
If LULU opens in a red zone- should be slightly bearish...
I would only recommend this trade for traders with a larger account (as it will soak up a lot of margin) / buying power, but if you don't mind owning shares... we've done one similar a few months ago.
This is at the 100 SMA on the weekly ...
For those who have shares, this would be a great location to sell (in my opinion). Even if you DONT have shares, XOM is at a nice buy low, sell high area and this would be a $5.00 gain on an $87 stock - not too bad.
This is just another one. Rinse and repeat. Would not cry about getting exercised. To learn more ...
Wendell was asking yesterday if this is the best place to do an iron condor.
My reply was "I see a strong support around $102.79. If one was already IN a bear call spread, yes, one could leg into the bull put spread creating the condor. Otherwise, I would prob keep an eye on a long here."
Caryn S mentions she ...
Still in a long term accumulation phase. If this thing moves bullish LONG TERM, it's going to take a WHILE..
Buy low, sell high.
I will verify prem tomorrow. I would like to get at least .11 on this put sale..
The $74.78 resistance is a strong one on AMBA. Not sure how this stock gaps, but if AMBA opens in the red zone, I would be a tad more bearish on a day trade. IF AMBA opens in the green zone, should be a smidgen more bullish..
Similar to rig, "we've done this before."
I don't mind owning shares. Even with 10 contracts, you will not get rich quick with this trade or this strategy. Buy low sell high.. if coming into Mid Dec I can buy this back for less than .15 I prob would... we will see how OPEC turns out.