$AMT has respected this channel for some time now, and with the up and coming 5G network release AMT should have considerable growth in the coming months. My play here is to get calls for the strike of the upper band (240-245) range
If you look back to Aug. 5th you can see that $V gapped down and was caught by the 100MA and for the past week it has been testing those levels again. I am looking for a month long call around the 185 strike range. I will continue to roll this position out if the price moves in the intended direction !
I bought I 150 & 155 puts due to up coming earnings. So My idea here was since amazon and fedex split up this summer their profit would be lower despite only 2% of revenue was reported from Amazon fulfillment. Along with that their previous earnings P/L report was extremely low. Ending up with me being over all bearish looking for a 10-15% drop during eranings.
This week has been a quite interesting one so far, tomorrow should be one for the books though ! the DJI closed just below the 200Ma today meaning if we dont have a gap up passing this resistance level tomorrow we could be awaiting dow 24,000. Only tomorrow can tell ! Stay tuned everyone
Also im personally bearish on this chart just due to the recent news.
So this is the 3rd time the SPY is touching resistance a long our top line here. From here i see 2 lines of support it could attempt to make a bull flag on, and continue its way up. If both of those 2 blue lines fail we could see the SPY coming back down to 265-270 and forming the upwards channel. Currently would be a good point to open a short or put option !