The price have only had 4 closes below the 21 EMA all year, that almost a whole quarter.
Looks like a gap fill will commence until 110/111 area.
This FOMC can go either way. I have a feeling puts may get sucked in and squeezed. We shall see
Is it simply filling the gap to put another top again?
Another good way to trade earnings is to wait until post annoucement and trade the reaction tactically. I will wait and see if this support holds
Feb17 802.5/805 cps collect 0.94 credit, 30 min lowest candle wick around 805. DTE 14
Neutral play on twtr with a NOV16 15/13 cps, collected 0.42 credit. IV almost 50% and ER 17 days away. But this is an opportunity I wont pass at these levels.
Neutral to bullish at these level. RSI 21.96, 8EMA 158.34 This chart is due for a relief rally
Out of septwk2 197.5/200 cps out with 9% return. Half bread is better than none. Overall bearish sentiment.
At price this low, I initiated a Septwk4 55.5/53 cps. Asking for 0.7/share. This is a push back on mylan price hike.
Goal is to initiate a Julwk1 210/212.5 credit call spread to form an iron condor on the 197.5/195 cps already on.
Asking 0.70 credit for Junwk4 690/687.5 cps with a targeted support of around 690
I would short via Jul 16 126/127 ccs for possible credit of $0.26/ share
I am asking for a 0.25/contract credit for Jul 138/139 call credit spread, based solely on technical. RSI, MACD ans STOCH. Yellen speech reaction can go either way. I will leave that to the economist.
Based on hourly chart and this morning's pullback, support is around 208 flat. Therefore a short strike of spy Jun16 205.5p for a put credit spread with 14 days to expiration is feasible for a trader that already established a credit call spread.
STOCH/RSI/MACD/Price action all show a high probability of a tear to the upside. Biotechs have been beat down of late...
No edge here. money would have been made entering on friday. I would only be chasing it from here.
About the only bet now is long duration, at least 35 to 56 days. 1751 is not far fetched, although i forsee alot of bounces along the way.