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WORK

SLACK Possible Reversal Area SoonSlack's stock has been following this descending channel since it's boom in June. Investors noticed that Slack is a good "corona" stock since people are working from home and therefore need some kind of communication tool. However, Slack is losing the fight from Microsoft's teams, which is simply a better and more developed product. My play would be that the stock will rise another few percent towards $31, consolidate for a while, and later drop off on the perspective of bad earnings. If the stock would beat the resistance around $33, a long play might be worthwhile. Watch out for earnings though, since it can go both ways.
WShort
by FieryTrading
$WORK updated analysis. Confluence at $40 post election.EW analysis shows that $work is working on a a wave 3 sub formation (yellow) within a larger wave 3 impulsive structure (white) that started back in march. Its hit the technical levels perfectly. The algos are in play! On a shorter time frame, the Andrews Pitchfork shows a beautiful bounce off the bottom of the channel, with and 80% chance the price will approach the median of ~$35. A dip is likely to occur here, followed by a continuation to $40 over the next few weeks to complete the wave 3 sub-formation (yellow) Market volatility around the US election will likely keep the price movement small. Im expecting a large move upwards by mid Nov, as election chaos settles down and markets have a more firm view of what to expect in the future. The stochastic RSI is oversold, but will likely stay at these levels for another week or two (just like the last time it was in that zone) as the election uncertainty passes. I expect great things from $WORK in the new year. ps: this model is invalidated if price falls below $24
WLong
by ir-rizzle
WORK - Just Buy40+ in early 2021, if not sooner. Will depend on market conditions of course, but the demand for efficient and optimized at home working platforms will only increase as more companies shift to at-home employment. Benefits have already been realized, no turning back now no matter how hard anyone fights it. Slack is positioned well to be a leader in such an environment. Easy buy. Technicals point up as well, above 32.5 and we will test the supply zone above around 36-40.
WLong
by thealecbellamy
WORK aka Slack unfortunate downward channelWORK aka Slack was a very promising trade with the work from home (WFH) explosion driving stocks like ZOOM, PYPL, SQ, FB, AAPL, MSFT and CRM to name a few. Unfortunately WORK's performance was lukewarm, and quarterly results proved the same. With services like Zoom Video, Facebook Workplace, Microsoft Teams, Salesforce and more providing a lot of tools that compete in one way or another with Slack's tools, the business is growing steadily but is failing to see the hypergrowth curve driving market gains for its peers. The downward channel should be observed and any break out of it to the upside with volume would have a greater risk-reward trade than trying to play a $4 trade. Though, with a $1000 investment at a price of $26, one has the opportunity to scalp up to $152 with a sale near or at $30. We don't recommend any trades for those with a low appetite for risk, and we ALWAYS recommend a stop-loss, or the opportunity to cost average if you are longer-term on the stock. *Note: Risking a downside of anything more than your upside potential is never a good idea. With a chance at 15% upside, one should also assume the risk of 15% downside MAX and take the applicable stop-loss at this level. The fundamentals of this stock are sound. We'd rate it neutral or HOLD in the short-term, though your money might work for you better in another stock. Alternatively, one could argue that WORK benefits vs other technology stocks having not been "overbought" in recent months. Though, the overall weakness and slow growth make a stronger argument, as well as the general market trend to the downside which Slack's Beta has proved prior (March) to be sensitive to. If you are in the stock, getting out now or anywhere close to $30 in the short term might prove opportunity to get in at cheaper prices again. However, the long-term potential with this household name makes one want to hold a small position to take advantage of any surprise gains (For example those found regularly in tech stocks such as liquidity events (acquisition) or product releases). Disclaimer: I am not a professional, nor do I claim to know what I am doing. I chart for my own education and revealing potential trade setups. I am always open to constructive feedback and resources that you can recommend to "up" my game. Thank you!
W
by Shadowfigure
THE WEEK AHEAD: PLAY, ACB, PTON, CHWY, WORK, AEO, GDXJ, QQQ, EWZEARNINGS: Some decent earnings on tap in terms of options liquidity and implied volatility metrics this coming week. Here they are, ranked by how much the at-the-money short straddle is paying as a function of stock price: PLAY (33/136/35.5%):* Thursday after market close. ACB (30/205/32.5%): Wednesday (time not specified). PTON (66/125/32.4%): Thursday after market close. CHWY (19/112/25.7%): Thursday after market close. WORK (51/104/25.1%): Tuesday after market close. AEO (36/108/22.6%): Wednesday before market open. ORCL (42/47/10.8): Wednesday (time not specified). Pictured here is an expected move short put in PLAY with a break even at 13.70, 9.5% ROC as a function of notional risk, 88.9% ROC annualized; 4.8% ROC at 50% max/44.5% annualized at 50% max. Look to take profit at 50% max or cover if assigned. Basically, another COVID-19 recovery play (along with airlines, cruise lines, and restaurant chains). With ACB and AEO being under $20/share, my basic approach would be either short straddle or iron fly, with the latter set up to generate risk one to make one metrics. Examples: ACB October 16th 8/9 "skinny short strangle," 2.70 at the mid price. ACB October 16th 3/8/9/14 "skinny" iron fly, 2.42 credit, 2.58 max loss. AEO October 16th 13 short straddle, 2.90 at the mid price. AEO October 16th 8/13/13/18 iron fly, 2.48 credit, 2.52, max loss. With the remainder, I would generally just sell the 20-25 deltas: Examples: PTON October 16th 65/135 short strangle, 8.43 credit at the mid price. PTON October 16th 65/105/110 Jade Lizard, 6.01 at the mid price (no upside risk, downside break even at 58.99).** PTON October 16th 2 x 55/2 x 60/125/135 "double double" iron condor, 3.43 at the mid.*** CHWY October 16th 49/90 short strangle, 5.08 at the mid. CHWY October 16th 45/50/85/90 iron condor, markets showing wide in the off hours, but would look to get at least one-third the width of the wings in credit. WORK October 16th 24/41 short strangle, 2.52 at the mid. WORK October 16th 21/24/41/44 iron condor, 1.00 at the mid (but also showing wide in the off hours). EXCHANGE-TRADED FUNDS RANKED BY PERCENTAGE OF STOCK PRICE THE OCTOBER AT-THE-MONEY SHORT STRADDLE IS PAYING: TQQQ (49/117/29.0%) GDXJ (22/59/14.7%) XOP (16/56/14.3%) SLV (44/55/14.0%) GDX (23/47/12.4%) EWZ (21/48/12.4%) XLE (27/43/11.6%) USO (7/44/11.4%) SMH (26/41/10.3%) I don't usually play TQQQ because it's leveraged, but thought I'd keep an eye on it if it does a mid-March lather, rinse, repeat. BROAD MARKET: QQQ (44/38/10.2%) IWM (34/37/8.5%) SPY (26/30/6.3%) EFA (23/24/6.3%) IRA DIVIDEND PAYERS: EWZ (21/48/12.4%) EWA (27/30/7.7%) IYR (24/29/6.9%) SPY (26/30/6.3%) GLD (31/23/5.3%) TLT (17/19/4.3%) HYG (23/16/3.3%) EMB (13/13/2.7%) * -- The first number is the implied volatility rank; the second, 30-day implied volatility; and the third, the percentage the next monthly at-the-money short straddle is paying in credit as a function of stock price. ** -- Currently, PTON is showing some horrible skew on the call side, which can be accommodated via ratio, Jade Lizard, or a "double double" iron condor. *** -- Double the number of contracts on the put side with the short put at half the delta of the short call and the short call vertical aspect at double the width of the put side. Hence the term "double double."
NASDAQ:PLAY
by NaughtyPines
What to do?? $SPY Crashing?? ($QQQ $AAPL $TSLA $MSFT $WORK )Based on the last 2 june drops, we should ideally bounce near $330 if the sell volume gets weaker tomorrow. Bullish catalyst - round 2 of stim gets approved However, if we don't bounce, we could have a march like drop and would probably be crashing thru the next two levels. $320 , then $300 What's the best play here? Open a strangle options play. 1-3 month out, as we are likely to move violently in 1 direction or another in the next few days.
AMEX:SPYLong
by WallSt007