R1KU34 trade ideas
$ROKU climbing back to earnings highs
Potential entry level above resistance $234
target $250 key psychological level
ROKU LongBull Flag breakout + revisit trend line
Entry 216
Stop 195
Possible Target:
FIB Ext. 1.6 = 265
ABC pattern: 280
FIB Ext. 2.4 = 300
I am not a PRO trader. I need few months to practice trading strategies.
If you like this idea, please use SIM/Demo account to try it, until my trading plans get high winning rate.
ROKU on watchLong above box. Looking for post earning drift.
Targets = dotted line . Risk = close below box.
Best entry occurs after some inside weekly price action at highs followed by break of box.
Requires broad market support.
ROKU update Bull Pennant?Roku tapped my first take profit at $256.13 next stop is $277.91, with elections over and some certainty in the markets we could see a nice bull run. If it breaks out of this channel (white lines) and holds above we could see $277. Bull pennant forming and I'm seeing a break out and retest to that top resistance line and take off. Support at 218
ROKU: Ascending Triangle, ConfirmedAscending Triangle, Confirmed
Pros:
Descending volume during formation
Peak volume at break out
PPS above 50MA and 200MA
200MA ascending
250RSI above 50
RS ascending and above 0
ATR ascending, more volatility
R/R ratio above 12
No resistance above
PT = 291.81$
BREAKOUT CUP AND HIGH VOLUM BUY DAILY ROKU ABOUT 256$The video-streaming platform company reported revenue of $451.7 million, well above the highest analyst estimate of $385 million, according to Bloomberg data. Roku also reported earnings per share of 9 cents. Wall Street had been looking for a loss of about 42 cents per share, according to data compiled by Bloomberg.
1% CAPITAL
$ROKU ripped after strong earningsWhat a move after strong earnings. Opened at 235.xx and held 228 during initial sell off and ripped past all the levels now trading at ATH. Next level would be 255 (1.272 fib). Next up would be 265, 277 and march towards 300 if trend continues
ROKU Secondary entryIf you are FOMOing because you missed ROKU's move this am. Secondary entry possible on
a flush down to 246. Warning... over sized moves in both directions possible with this ticker.
SELL 1 VERTICAL ROKU 100 6 NOV 20 205/202.5 PUT @.60 LMTjournaling
sister trade with Butterfly attached
BUY 1 BUTTERFLY ROKU 100 6 NOV 20 240/250/260 CALL @.70 LMTjournaling here
2nd trade off the put credit
ROKU ER run up expecting a nice run up for er maybe an end of the day drop or Tuesday we see some blood for elections, then we pick up volume on Wednesday! Bounce off my .618 Fib at 200.54 if we hold above that we could see a good move up to retest that resistance line. sitting in the middle of the channel room to go either way. most likely down with elections coming up and a big push to retest highs after.
ROKU - The Stock Market in 3D - trying to hold GPFound LL support at the GP below the channel bound - wait and see election edition.
THE WEEK AHEAD: ROKU, WYNN, SQ EARNINGS; XOP, USO, GDXJ, EWZEARNINGS ANNOUNCEMENT VOLATILITY CONTRACTION PLAYS:
... Screened for options liquidity and 30-day implied greater than 50% and ranked by "bang for your buck":
ROKU (38/31/16.4%),* announcing Thursday after market close.
WYNN (27/76/14.7%), announcing Wednesday (no time specified).
SQ (43/74/14.3%), announcing Thursday after market close.
PYPL (56/60/11.6%), announcing Monday after market close.
GM (20/59/11.4%), announcing Thursday after market close.
QCOM (45/54/10.9%), announcing Wednesday after market close.
BABA (65/55/10.5%), announcing Thursday after market close.
Pictured here are two 2 x expected move setups in ROKU, one in November (19 days 'til expiry), and one in December (47 days 'til expiry).
The November setup was paying 8.55 at the mid price as of Friday close, with delta/theta of -.89/51.22; the December: 10.13 at the mid price as of Friday close, with delta/theta of -.95/27.88. I could see doing either, with the primary benefit of the shorter duration being that the volatility contraction tends to be more rapid, and with the primary benefit of the longer duration one being that you've got a little bit more room to be wrong.
If you're of a more defined risk bent, look for an iron condor setup paying at least one-third the width of the wings in credit, such as the November 20th 160/165/265/270, paying 1.63.
Look to put this on in Thursday's session prior to market close, adjusting strikes as necessary to accommodate movement between now and then.
With the exception of GM, the remainder of the underlyings can be short strangled or iron condored, but would go short straddle or iron fly in GM due it's size (34.53 as of Friday close).
EXCHANGE-TRADED FUNDS RANKED BY PERCENTAGE OF STOCK PRICE THE DECEMBER AT-THE-MONEY SHORT STRADDLE IS PAYING AND SCREENED FOR THOSE PAYING >10%:
XOP (23/69/18.7%)
USO (14/71/17.5%)
GDXJ (22/56/15.7%)
EWZ (29/56/15.5%)
XLE (38/57/14.9%)
GDX (23/46/13.3%)
SLV (28/48/13.0%)
XBI (36/44/12.1%)
EWW (35/49/11.6%)
IWM (42/42/10.8%)
SMH (28/42/10.9%)
QQQ (43/40/10.8%)
BROAD MARKET:
IWM (42/42/10.8%)
QQQ (43/40/10.8%)
SPY (38/38/9.6%)
EFA (33/30/8.4%)
IRA DIVIDEND-EARNERS RANKED BY PERCENTAGE OF STOCK PRICE THE DECEMBER AT-THE-MONEY SHORT STRADDLE IS PAYING AND SCREENED FOR THOSE PAYING >10%:
EWZ (29/56/15.5%)
XLE (38/57/14.9%)
KRE (32/50/14.1%)
SLV (38/48/13.0%)**
XBI (37/44/12.1%)
* -- The first metric is the implied volatility rank or percentile (where 30-day implied is relative to where it's been over the past 52 weeks); the second, 30-day implied volatility; and the third, the percentage of stock price the November at-the-money short straddle is paying.
** -- SLV does not pay a dividend.
Bullish falling wedge, declining volumeROKU has been consolidating and cooling off recently filling most of the gap down left from a few days prior. The falling wedge pattern paired with declining volume is a bullish signal that a move is to come. Fib levels up to ATH above.
