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Optionstrader

Late to the party to post, but SQ swing trade worked very wellEver since SQ broke its downtrend from the all-time high at the beginning of 2019, our team at PLT has been watching for great intra-day and swing trade setups. SQ is one of our favorite companies to always remain bullish on due to the products and services they offer in the Fin-tech industry. This trade was planned on January 18, 2019 over the weekend to enter February $65 call options on the retest of the close of January 17, 2019. You can see SQ's price broke above the daily 200 day sma, which is typically very strong support. Our stop was placed below all the bullish candles and the 1/3 back fib just under $63.50. Result was a nice 56.7% gain on the calls almost the next day after hitting target 1. Target 2 was also hit which was the 1.618% extension from the most recent move. The calls return went well above 100% at that point since they were deep in the money. SQ most likely goes higher, but may reset and retest a bit before earnings. Look out for more day and swing trade ideas in the very near future now that we are all settled in to our Trading View account :-). Cheers!
NYSE:XYZLong
by PriceLevelTrading
My thoughts on SQRight now we are holding the 50 day sma on daily and previous support at $47.61, which is also the 50% of the most recent measured move. Purple line: what I am looking to see is if we hold here, consolidate then move higher. However, $49.56 is a resistance SQ needs to close above before continue back north of $50. Orange line: we fail the 50% fib and test the 38.2% fib around $45, which is also near the 100 day sma and lower trend line that we bounced off on the last dip. Failure of the 38.2% fib would mean a definite test of the lower trend line. Obviously this all depends on the overall state of the markets. The tech sector has been getting hammered for the past week so let's see if she can hold. I would prefer the orange line or lower trend line to buy longer term calls and/or shares. Cheers!
NYSE:XYZLong
by brianweber
5
GOOG - Cautious Buy - Played via Selling Put Credit Spread GOOG has closed upwards of $1,054, forming a nice bullish candlestick! So, despite the great candlestick formation, there are some worrisome signs brewing in the Bond & Gold Markets, as well as in the Volatility Index. This means that if investors start heading towards safe havens like these, the stock market should take a pause and/or pull back. As a result, the way I decided to play this bullish to neutral stance of mine on GOOG, is by selling the $1,012.5 / $1,010 Dec. 15 Put Credit Spread (18 Days out) for $0.27 credit, or $27 per contract ($2,700 for a 100 lot). This means that based on the ThinkorSwim platform, this is a Delta 15 put spread, which simply implies that the options market assigns JUST a 15% chance that this option spread will be ITM (In The Money) by its expiration. In simple terms, it is highly unlikely that we will get our options assigned to us. To summarize, being long GOOG by selling this put spread, we stand to make more than 10% Return On Our Risked Amount in 18 Days and having an 85% chance that we will be right doing so! Pretty good odds for a really good return, in a short period of time! This way, we are allowing GOOG to drop MORE THAN $30 from its current levels and STILL be able to keep ALL of our premium. Close your position when GOOG hits $1,080 (Profit Target), or Exit the trade, if the spread increases to $0.40 (Stop Loss), for a 2R. Happy Trading Lindosskier
NASDAQ:GOOGLong
by lindosskier
SPY Broken Wing ButterflyGetting my # of occurrences in a small account. SPY has been on a tear lately and want to capture a bit of the upside, without any risk to the downside. Trade Setup : -1 SPY Mar 17 236/237/237/239 Call Butterfly @ 0.19 DTE: 29 Max Win: $119 Max Loss: $81 Breakeven: $238.19 Trade Management: Best case scenario, SPY trades around 237 near March expiration for close to max profit. I'll likely look to take 50% out of this. $0 downside risk on trade and will let expire or cover for close to nothing if we get a move down. Fits risk parameters here as well, although we would appreciate some IV increases across the board. Green is profit zone; vertical bar is expiration.
AMEX:SPY
by Benji
XRT Iron FlyStill looking for any IV in the market - XRT had a 35 IVP, so I thought I would put something small on. Focused on minimal BP exposure during these tough times in IV, but I have to keep a decent # of occurrences up regardless. Trade Setup: - 1 XRT Mar 17 42/44/44/46 Ironfly @ $1.34 DTE: 30 Max Win: $134 Max Loss: $66 Breakevens : 42.66 and 45.34 Trade Management: Look to take around 25% or $35 in the trade; Full loser on the trade or I may roll out the ITM/tested side if on the dance floor near exp. Green is profit zone; Vertical black bar is expiration.
AMEX:XRT
by Benji
Crude target of 52 almost achievedCrude is nearing the target of 52 after the breakout of the triangle after the OPEC meeting a couple weeks ago. RSI and Stochastik are now very much overbought and even generated some sell signals. Also, as of now, there is a divergence in stochastik and RSI indicating the market is due for a correction sideways or lower. Without any fundamental news a correction is imminent. However this correction might well be sideways. Overall physical trading volume has slowed according to my sources after the panic buying spree shortly following the OPEC meeting. Overall we are in an uptrend, and I would expect we ll at least test the highs made earlier this year around 52. Some light call spread selling might be good, but IMHO being conservative is the right play. No buying of downside options as that premium will just decay.
TVC:USOIL
by mjhillpp