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Direxion Daily Semiconductor Bull 3x SharesDirexion Daily Semiconductor Bull 3x SharesDirexion Daily Semiconductor Bull 3x Shares

Direxion Daily Semiconductor Bull 3x Shares

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SOXL trade ideas

SOXL 3X Semi - Unusual Volume $2M+ traded for $42 strikeAMEX:SOXL $2M+ in premium traded for $42 strike calls for Friday May 21th 2021 expiration traded today. Unusual Options Volume Activity for $80 calls about 9000+ contracts traded through out the day (Above Open interest of only 1162) from $2.10 to $2.50 Various semi conductor stock earnings coming up soon. Bounced off 50 EMA Today on the daily showing downside support. CCI is also trending up going from bearish to bullish after being sold through out the day. Nice hammer on the 4H chart A Months time on these options I would recommend a vertical spread to keep theta at bay. Wait for confirmation of break of the $40.00 level for upward trend and possibly a close above this level to start a position. Enter using $40 or $41 calls around trigger as theta burn will be less once ITM. Or consider a vertical. Exercise caution when entering 3X ETF as they tend to move rapidly to the down side on any pullback. Support 50 EMA $38.55 Trigger $40.00 Target 41.44, 42.44, stretch target of 43.45 SL close below 50 EMA Follow more unusual activity signup for a free trial using my referral link marketaction.live Please let me know in the comment if you find this useful.
AMEX:SOXLLong
by marketaction_live
1
SOXL$SOXL- back above the 100 day EMA, also above a multi month support line. I am buying between $28-32, selling(stop loss) near $27.75, securing some profit at $40 and $43. According to Yahoo Finance: “As more people have been staying indoors since the COVID-19 outbreak, there has been a surge in electronic goods sales, which are leading to a rise in demand for microchips. So much so that there is presently a supply crunch for microchips that is affecting production of electronic and automobiles. This once again proves that the semiconductor industry is on track for further growth.”
AMEX:SOXLLong
by BullishBear08