Bull Pennant on COTY: BREAKOUT= MAJOR UPSIDEA Bull pennant has formed on COTY and looks like it will attempt a breakout soon... If breakout is confirmed I expect to see some major upside to the $12+ level... I will watch price action as it approaches bottom support line and if it reacts as I anticipate I will strongly consider buying mid-February expiration call options
Calloptions
Wayfair Bullish Falling WedgeIf price bounces off support line I will buy on the expectation it will easily hit target 1:$260... If it hits resistance here, sell and take profits however, if there is a strong breakout of resistance line we could see some really nice upside. I am watching closely over the next couple days and will consider buying call options if the right opportunity presents itself.
IWM Bullish LongIWM is an Exchange Traded Fund (ETF) which follows the Russell 2000 Small Cap Stock Index. I purchased call options (just regular, no spread) Strike 200 expiring Jan 2022 because I belive IWM has shown consistent bull market uptrend since November, and consistently uses the 10 Day Exponential Moving Average (EMA) as Support. IWM has shown better consistency, in my opinion, than SPY (ETF following S&P 500), and while QQQ (ETF that follows the Nasdaq 100 index) has outperformed most other major indexes in the past few years, IWM's lower prices made it more attractive to me. The growth may be slower than some other indexes; but as my first trading teacher stated, "You don't go broke making money." This may be a boring strategy, but I believe it will still be a profitable one. My stop loss plan is set below the 20 Day EMA. The yellow dotted line is the approximate price per share of stock when I purchased my calls earlier today.
I am not certified or licensed by any individual or institution to give financial or investment advice. I consider myself to be an amateur investor and trader.
Green day tomorrow if the stonk gods allow it. I got some calls before close. We could potentially see 1 more red day if so i will sell my calls and buy puts instead. But this will bounce one of these days!
CRWD continued supportAfter recently breaking out, CRWD cooled off a little and is currently testing last weeks high. Look for support around the 126 range. Further confirming the uptrend is a bullish head and shoulders. A break downwards could put CRWD back in the previous channel. If CRWD continues to continue follow the short term uptrend I would consider taking a medium term position at the 132 mark. I would set a stop loss at around 124. Look for an upper target of at least 140.
SDC - Smile Direct Club - LONG Open Above trend line - Look NowSmile Direct Club looks really good breaking this line lets see if it holds
AMC Bullish Divergence Potential, but watch the news.NYSE:AMC
NYSE:DOW
TVC:DJI
TVC:NYA
All,
I am following AMC rather closely, but wanted to post again to cover something I see happening. I am seeing a bullish divergence on the weekly and along with that it has tested support where it current is 3 times. However, in my previous post there are some very strong resistance lines. I can see it making a decent run to $2.40-$3.15. Like I said thought if you are not buying options I think this is a great buy. I highly doubt anyone will let AMC go bankrupt. I actually stand by AMC as a movie, buff nerd and I really think most people will also. Sure they may over charge for popcorn LOL. I think before they go bankrupt they would sell to someone or a big name bank like Chase/Wells Fargo which would not be a bad thing either or some sort of deal. It's a strong industry, maybe not worth as much as airlines or things of that nature, but just my opinion. Not saying it can't drop lower but come 2021 on a long or long term option you should see profits IMO.
Reasons to buy:
-What I said above
-Oversold on basically every timeframe Daily - Monthly
-Bullish divergence possible about to happen unless some crazy virus news comes out and busineses are shut down till July.
-Coronavirus checks are coming in first wave people may be recouping money and trying to invest in the market to make up for losses
-Even if going "bankrupt", they are not the same. A company going bankrupt to due to the coronavirus is perfectly fine IMO in a company like AMC. They literally only make money from people coming in. So any investor or bank will come in and buy AMC and it will take off again seeing as virus is at fault. Also the government can bail them out.
-Businesses will be getting relief wave 1-2 soon
Reasons to wait or buy a different stock:
-News they could go bankrupt if they stay closed for too long (kind of the case for every company)
-Virus timeline is uncertain (could drop 1-2 range)
-Volume may not be there with the news above so even if it does go up it may be in a drastically lower volume and take longer for a while to pump
-Not a long term buyer month+ and want to make other investments for quicker profits.
AMC - Long Buy Possible X2-X4 ProfitsI think AMC is a steal right now you could wait till it hits resistance and sell again, however I would be worrisome the virus ends and you may not get a second opprotunity. Also AMC is a stock I feel as if has great sentiment and has been around for a very very long time. At minimum 30% gains.
My opinionated option or long term buy in is around 2.08-2.20. Both levels will be a 3rd or 4th restest of support. If it holds we should be good to go.
Downside opinion: somehow virus drags out, news gets worse and you see it tank to 1.50-1.60. If you are longing though even 2.08 to 1.60 isn't the worst seeing as that support level should have a major bounce. I would set alerts and see if support holds if it breaks support set the next alert in that 1.50-1.60 range.
Thoughts?
NYSE:AMC
NASDAQ:GLDSY
NYSE:DOW
AMEX:DIA
ALGN Short Play $200 to $210I think there can be a play made either options or short term from $200 to right at about $209 seeing the ascending triangle forming. Then I would watch extremely close, if it breaks you can have some even larger gains, but I think at least it will make a sell off and maybe consolidate or bounce around in the 200-210 range once hitting $210. I would look for candle opening above $199 or buy on first retest.
AMZN Call OptionI believe that Amazon still has significant upside, and because I wanted to purchase more leverage, I decided to put a call option on Amazon. I have made about $280 so far, but I believe that Amazon will still go up for a while. I believe that waiting for the MACD line to cross over the zero line would be prudent, but I think that everything else looks okay. Stochastic seems to be good, RSI also shows some upward momentum. I also checked the OBV, and that signal appears to be showing upward momentum as well. I will hold onto this option, as the expiration date is on October 4.
Cheap call options better than buying SPOT for break-outLooking for clues in BTC over the last few weeks has been extremely tough. Trends that we have noticed are falling volumes, tighter ranges, weakening implied volatility in the options market, and simmering realized volatility as well. What exchanges can we trust when it comes to volumes? How much of trading is just arbitrage across exchanges, and how much OTC business is going on where volumes are not reported into the market? All of these questions, if answered, can provide clues to help us gain market insight. The unfortunate fact is that one will never have ALL of the answers, but the more of these questions you can answer, the more informed you will be compared to your competition in the market place.
On Feb 19th, the CME Bitcoin Futures contract saw a record day volume wise trading over 18k contracts. Since then, average has fallen back into the low thousands.
www.cmegroup.com
Since the recent highs on Feb 24th and quick reversal back into the range, the volumes have been quite awful. BTC’s feel at the very moment is that it wants to probe the recent highs and see how strong the resistance is sitting at the $4,200 level. Unless large buying volumes come into the market, probing is all we shall see at that resistance level. We believe it will take a serious force of buying to take those levels out to the upside.
If low volume persists, this technical pattern presents a potential false-break out trap; if traders see $4,200 being tested, they may not want to miss that major break out to 5k BTC and beyond causing them to buy into this false strength. If this market traps them and retraces back to that magnet level of $3,600, they will be forced to puke out and realize some pretty quick losses. If a trader knows that the emotion of missing a 20% rally will eat away at him, but has been punked out on these false-break outs in the past, a much safer (and cheaper) way to put on bullish exposure without getting whipsawed would be to buy short-dated calls.
In our morning piece two Fridays ago (medium.com), we wrote, “Given the “gappy” way BTC trades and the suppressed implied volatility, breakout trades are very cheap to initiate. While these trades may be cheap for a reason, it does not cost you much to buy the March $3,250 put (roughly $15–20 vs. $3890) or $4250 call (roughly $50–55). As a ‘live’ option trade (unhedged), this can be a good way to capture profits in case the range breaks.” Today, the March (3/29/19) $4,250 calls can be purchased for roughly $30. This would give you 9 days (which isn’t much) of comfort in if we break through the $4,200 resistance, you can participate on the move to the upside. If you feel as though 9 days may be too short dated, the April (4/26/19) $4,250 calls can be purchased around $135. The April options can give you a month and week or so of time to sit on this market but know you can realize gains on a sharp move to the upside.
As we monitor the options market daily here at BitOoda, we think there are several opportunities in the market for those who think this extremely tight range is due to break-out. If you are of that mindset, please let us know your thoughts and we can help design the right trade or structure to fit your thesis.
#Yolo play on $TAHO call optionsThis is more of a long term yolo as GOLD continues to recover.
TAHO - Entry of January 2020 $7 strike call options.
Range of $0.01 - $0.05 (Entry at $0.02 average)
This has a huge potential to sky rocket as gold continues to recover into the 1300's and higher. TAHO is also right under the daily 200sma which is key resistance for more buyers to come flying in. Projecting a minimum 500% gain in the next 8 months.
TSLA: Buy call options ahead of earningsTSLA's technical picture is mixed and the stock is trading in the middle of a one-year channel. Very little cues from the market as to the potential direction post earnings (tonight). The stock has been quite volatile and should remain so in the current environment. Buy Feb 16'18 $355 calls which are 3.9% out of the money. I paid $7.55/share for them. Bet on pop if the earnings are good . If the company misses expectations, sell an out of the money put on the break to get back the call premium.