QCOM High Conviction Trend Reversal
Updated
QCOM at 200 SMA support and will likely revert back up or trade flat.
Trade Ideas
Trade Ideas
- Shares: Long around the 200 SMA ($125) for $140 and $152.5+ Profit Targets.
- Short Put: 110 strike expiring 4/16 for $1.3 Credit. Short 14.5 deltas with a 82.5% POP. $1000 BPE for a decent 13% ROC. Close at 50%-75% profit, 150%-200% Loss or 20 DTE, whichever comes first.
- Put Credit Spread: 115-120 strikes for $1.33 Credit. 63% POP risking $367.
- Call Debit Spread: ATM or maybe 1 OTM.
Trade active
Close Short Put. The 110-Strike SP is currently trading for $0.57 resulting in a $0.72 or 56% profit per contract.The other trade ideas are all in profit and still in play.
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