GMEMissed the $24 break on this. Earnings tonight. Probably sees sub $20s after if I had to guess. Only a matter of time before weekly demand zone is tested at ~$13.
GME trade ideas
$GME - Dec 6 RunIt's simple, just like my previous posts.
This has nothing to do with earnings or fundamentals. It's purely a market mechanic trade.
The delta from expiring/exercised/rolled monthly expiring options from the end of the month will always hit the market on the usually first Tuesday of the next month.
Dec 6 is the date where lots delta will get settled due to last month's expiring options & from Nov 22's failed sucker rally options.
Would rather not over-share the method to this at this point. Just look at my previous posts on $GME and decide for yourself. When bashing for whatever reason at least please keep the language civil in the comments.
At the same time here's a screenshot of something and no explanation what it is or a direction prediction so that i can appear cryptic and smart like others do. imgur.com
Jk imgur.com Dip before the rip on the 6'th probs will be caused by today's CPI thing.
Keep in mind that this even is market wide but it only manifests as 1 sudden big spike on very few stocks. Some of the other stocks i'm analyzing with the method i analyze say that this is the bottom whilst GME says there's another dip spike before the 6'th. I've decided to ignore this dip and i've gone ahead and bought risky options not GME but another stock with a similar but even better setup that i believe will spike even higher than GME on this run. I won't be posting my position in said other stock here not to get inversed by highly regarded folk.
Regardless, there's money to be made on GME.
The safe space is with 9 Dec 24c's (-100% or +200% return)
Mixed Risk is: 9 Dec 24c's & 29c's (-100% or +450% return)
Yolo / LFG: 9 Dec 29c's (-100% or +800% return)
Stay safe. There's mixed signals on the data i'm seeing whether there will be a dip before the rip in the next few days or today. I'm betting there won't be one, but i'm a fool. A good trader would wait for that dip.
GME 21/24/28 Broken-Wing Put ButterflyRange-Bound Pullback Set-Up:
Since about early September GME has been range bound between 29 and 24. The entire market was down for the month of September, yet this traded range bound in this area. But towards the end of September, it tightened it's range bound between 27 and 24 and trending lower at a slow pace. With the big green day we had in the markets Thursday after CPI and another green day on Friday, this really didn't move as much. If the range is getting tighter and trending lower, we could be setting up to head lower in the 21-24 range. Which is why I had the idea of a Broken Wing Put Butterfly which can work great in these range bound set ups.
In order for me to put this trade on, I need to see this trade below were today's candle ends up. Because as of now, it's looking like a reversal candle at the area of resistance. So I'll have to check this tomorrow before executing my trade. As far as stops, I'll be position sizing with max loss. If the market decides to head higher the rest of this month and GME decides to follow the general market, this could make it's way back to another resistance point of 29ish. If by the end of this week it gets to 29, I'll want to see a reversal candle at 29, before I decide to get back in another trade.
Trade Set-Up:
No trend. It's making relatively equal highs/lows. The 20-day & 50-day SMA's are flattening out as well. I've established that resistances for this particular trade idea is 27 and support at 24. This small rally has brought the stock back up to resistance level and a reversal candle is currently forming.
T.E.S.T.
Timeframe: 3 weeks. I'll have a December 2nd expiration date.
Entry: If this trades below todays possible reversal candle, my entry will be right around 26.
Stop: I'll be positioned for max loss.
Target: My target is 24.
Profit Score:
Potential- 2
ATR- 2.18
Score- 0.92
Stock Outlook: 0 to -1
Trade Breakdown:
Chart Set-up is Range-Bound and consolidating.
Entry: I'm going to sell the December 2nd 24 strike and buy the December 28 and 21 strike. There are no earnings scheduled until December 14th so stable volume is anticipated.
Position Sizing: This should be a Net Debit of about 3.10ish by tomorrow if it does fall to 26 tomorrow. I'll be setting up for max loss and only risking 2% of my portfolio.
Trade Management: A week before this expires expires I will analyze the trade to determine if I should close out the position before expiring. If this falls below 24 before December 2nd and looks like it wants to run back up to 24, I might want to hold this to expiration to close out near the apex of the trade.
Gamestop earnings tomorrowGamestop Q3 October 2022 earnings are tomorrow 12/7 at 4:05pm. GME has been trading in a $24-29 range since it's last earnings. It's basically been a consistent long at $25ish or short at $28ish since then. Will this 3-month ranging pattern change this week? I guess we'll soon find out tomorrow. Here's a GME 4hr chart with current levels:
R3 = $29.32
R2 = $28.45
R1 = $27.58
pivot = $26.71
S1 = $25.84
S2 = $24.97
S3 = $24.10
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
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Newsworthy current events
Revenue
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7 Common mistakes:
+5% portfolio trades, capital risk management
Beware of analyst's motives
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Lack of planning & discipline
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GME GameStop Options Ahead Of EarningsLooking at the GME GameStop options chain ahead of earnings , i would buy the $30 strike price Calls with
2023-1-20 expiration date for about
$3.00 premium.
If the options turn out to be profitable Before the earnings release, i would sell at least 50%.
Looking forward to read your opinion about it.
NYSE: GMETest BUY @24.00 to 27.00 LEVEL . Wait for the earning report on 07 Dec 2022. Will it breakout after a long consolidation period or will it breakdown after the earning report date? For me I'm bullish on this if it breakout. ---Coach Macph
15 Min Symmetrical Triangle on GMEA breakout out of this Symmetrical triangle could drive GME back into the high 30s possibly 40s not to mention witching just around the corner.
GME ShortIn downtrend, bounce back to Supply Zone
Earning 9/14/2022 Estimate -1.66
Short 145
Stop 157
Target 90
Risk management is much more important than a good entry point.
I am not a PRO trader.
In my trading plan, the Max Risk of each short term trade should be less than 1% of an account.
Update to TTT’s relation to GMEShort and sweet is what we all love.
NOT FINANCIAL ADVICe, I AM A DEGEN
TTT is reclaiming base support, following my thesis, if this continues, GME will begin to absolutely ROCKETTTTTTT
My original thesis claims TTT is being utilized for GME swaps. As TTT remains parabolic (upwards), GME will continue to tank. As TTT falls through floors and tanks, GME should rocket.
Please check out my previous posts if this type of critical thinking interests you. I have been covering this topic personally since 2020.
Remember Direct Registration of your Shares, or DRS, is the best way to purchase direct stock under your legal name. Doesn’t it make sense to actually own shares you purchase? Forget the advantage of booting short sellers, it’s time to own what you purchase. Screw street name.
Much love,
~Chem <3
GME: Huge Price Action Next Week? $43?Hello,
Welcome back to another TA! First and foremost, I eat crayons every day, and none of this is financial or sexual advice. That being said, the MACD, although a lagging indicator tells us a bigger picture of what is to come. First, the further the signal line is below zero, the stronger the signal once the MACD line crosses from below to above the signal line the more bullish. We're mostly going to talk about the daily timeframe but the weekly is also a telling story.
MACD
So, in the past year, starting in
March (RC buy-in) MACD was way below zero and once it crossed above the stronger uptrend we had a ~122% move up.
May MACD also way below zero and once it crossed over we saw a 77% move up
July MACD had a bullish crossover but we were already above zero so the strength of the uptrend was not as strong 27%
Aug MACD was again above zero and the move up was 33%
Sept MACD crossed over below zero but didn't move up past zero. This resulted in a mere 11% move up.
This takes us to the start of the week, Nov 14th, where we had a bullish crossover that started below zero and has crossed from below to above zero. This means our uptrend strength should be greater than expected.
RSI (Relative Strength Index)
The RSI on Nov 9th started below 50 and has since crossed 50 which indicates the stock is bullish. On the weekly, the RSI is curving up to reclaim the 50 line and once we cross over there we'll see some huge uptrend.
Fibonnaci
Fib retracements show that we'll hit $29.99 (0.618) soon. Coupled with what we know about the MACD and RSI we should see at least $32.19 and if the bull trend is strong, we should see (1.618) $43.08
TL;DRS Everything signals bullish with this stock and we should see huge price action which could potentially take us to $43.
GME Bullish Breakout of WedgeAfter a long few months of trading sideways, and a couple of fake outs, it looks as though GME is holding it's bullish breakout of the wedge that formed the last 3 months.
Looking for a break of the $45-50 ish highs from earlier in the year and to settle in somewhere above that heading into the end of the year / early 2023. I suspect wall street does not want a bunch of retail investors (younger folks) using their Christmas money to lock in large buys at low prices. They won't allow those people to get in at these low levels. Look for one more major drop sometime in February / March when tons of basket swaps expire and to make the Christmas money buyers see some heavy red in their accounts (and a likely large bounce back up once those people are potentially shaken out).
Just for fun, not financial advice. I'm looking to enter 12/2 through 12/30 $25-45 calls and see what happens.
$GME - Nopex Nov 22 2022Publishing this as a correction to my previous post about GME possibly running next week. I checked Friday's EOD data and things don't look terribly good.
More here as i cannot post images to explain this fully on tradingview: www.reddit.com
It makes my heart weak to tell you GME is not gonna do well this opex, but someone's gotta do it.
$GME - November 2022 run, keep it shortThe 2022 November quarterly GME run is here.
I'm looking at my indicators to see whether we're gonna have an Opex or Nopex. 2/4 of my indicators tell me that it's a coinflp between an OPEX and a Nopex. Sorry, i know this is not what you wanted to hear, but...
1) Indicator 1 - Swaps (Negative)
Swaps on GME the other peripheral stocks like AMC/BBBY/XRT are minimal as usual... This means that there's no swap based volume support for this rally and that it's possibly all moving just due to dealer hedging for 0 to 1dte options for this big Opex. TLDR: Swaps say there won't be a big move up next week.
2) Indicator 2 - XRT Put OI Drop (Positive)
According to a source who has his own indicator based on XRT's Put OI where if the OI drops on certain dates, it indicates that a run is coming soon... he says that the Put OI drop has occurred and that we're up for a run. This indicator has worked for him 2/3 times so far, so his indicator is positive for this run. We had a previous Nopex where the indicator strongly showed we're due for a run but we instead dumped.
3) Indicator 3 - Market Opex Behavior (Mixed)
There's a certain behavior the market does during Opex which strongly indicates whether it's an Opex or Nopex.
-We dump for the second and third week of the month (Sorta happened)
-Near the end of the third week (this week) there's a magic market recovery on Thursday and or Friday (Happened)
-Vix starts to drop on Friday (Happened)
This indicates extreme confidence for a run next week. It's one of my strongest indicators.
However, in the previous run for August and the one in May, what has started happening is that the entire market is that some big names in the market pump on the first couple of weeks of the month, then they dump and while they're dumping, some of the other less known memes are pumping in the second week. On the third week, GME the main memes run for 2 days indicating something will happen next week, but then as the weekend passes and Monday comes, the market dies and it dies all the way into the next month for 15-20 days.
4) Indicator - 4 MSM Behavior
Basically the current market gives me no choice but to buy a few calls for next week for GME, then i need to see if the MSM will tell us all that the world is ending on Monday with Monkeypox(Where did the marketing team on Monkeypox go btw?) or an ICBM from North Korea or something about inflation suddenly being super serious during the weekend, then it means they want everyone to sell and this we're in for a GME run and price pump. If there's no reports of world ending events, be scared and dump your calls.
5) Indicator 5 - OCC Hedging Loans
The OCC shows how much collateral is being posted for short positions. Basically if there's gonna be pump on Monday, there will also be an increase in the OCC's Hedging Balance for certain stocks. So far the data shows a small trend upwards as of a few days ago, but it is unconfirmed as it's still a really small curve. The big data comes out tomorrow because the OCC data is EOD data for today, and so we'll know then if someone's doing something next week.
6) Indicator 6 - Borrow Fee
The OCC hedging loans & the borrow fee go together. If one increases, the other will increase along with it and this indicates that we'll have a massive pump next week. The borrow fee has increased a little bit but not enough to indicate a run. Also the OCC hedging balance has not increased yet to indicate a run. Again, must wait to see how today develops. The prudent action here is to get calls first, ask later (Chukumba)
Lastly
Keep in mind that if we do run up and not down next Tuesday, the initial spike is usually the biggest e.g it's all downhill after that. If the spike isn't big enough for the day, it means that the run isn't on next weeks' Tuesday, but the week after. You have to adjust your strat accordingly. These cyclical runs behave in a certain way that i've been watching for the past 2 years now. TLDR, i'll update this post with new comments of what's up over the weekend and on Monday to tell you if we're running or not.
Conclusion
I think the market's gonna dump and that we're seeing some pumping today is because of heding requirements for 0 day to expiry options. There will obviously be the usual price pump on SPY and many stocks 15 minutes before close as brokers pre-emptively close people's expiring options which will cause a tiny pump, but i think that's all she sang.
I need to see today's EOD OCC data to be able to say that we'll have an SLD Opex next week and not a Nopex. So far i'm negative for a successful opex, but i have to grab a few calls to be in just in case. Also keep in mind FTX just fell and if it was reaaally being used for locates, then this opex could be insanely good unless they have a temporary stopgap for now.
The reason why i didn't want to mention when the cycle may occur in my last post is because people buying calls on the day of the pump MAY (unconfirmed) cause price suppression due to hedging requirements and may be why our SLD/Opex runs are so weak or inexistent. Alternatively the reason i believe more likely to be the reason for diminished Opex/SLD runs is because of the successful campaing on Reddit to make people not buy options over time. No option buying, no dealer movements, no price movement. Again, equally, it could all be because everyone DOES buy calls & hedging those on the dealer side is what screws us.
Regardless, this last of part in my conclusions is more close to theories and tinfoil than something you should listen to i think (Up to you really). I wish you luck on whatever you decide to do. I'm keeping my long puts on most of the market and some straddles i have on other names like BRK.B & RBLX. For GME i already bought a few calls a few days ago on low IV and i'm hesitant to get more at this point with this IV jackup, but i might grab a couple more... i dunno. You can bet ya that CC sellers will take advantage of this IV and will sell CC's into it... so be careful, don't go nuts on this cycle.
Until next time regards.
Fib Circles show GME at $80!Been playing around with Fib circles on GME and if you mirror it to the original run, it'll knock at previous highs then come back to retest the top of the channel.
$80 by January then back to $30 range in spring-summer 2023.
Then MOASS end of 2023-2024.
Of course, it's a new tool I'm playing around with, but I personally will be considering selling at this range and waiting to see if it consolidates.
Let me know your thoughts
15 min Double top!!!We can see the Confirmation of a 15 min Double top this morning when looking at Gamestop. Also the Relative Strength Index is weighing heavily on the overbought side With the moving average convergence divergence also looking to cross downward. Possible small 2 to 3 dollar dip in the next coming day or days before it starts to make another run back up leading into the last Quadruple witching for the year which will take place on Dec 17, I think we should see GME at new quarterly high about 2 weeks prior to witching and then will fade back off until next quarter in 2023.
GME LONG IDEA Markets look like they recovering not fully convinved looking
that being said this the hot take on GME
if price breaks those orange levels i see a good clean 34% yield as there is no significant
resistance ahead (also could be perceived as a double bottom)
still marked out the levels just in case it rejects the orange the exclamation mark
heeds warning targets (how deep its grave is going)
or potential short tp's
LIKE FOR UPDATES
COMMENT UR CHARTS N FUNDAMENTALS
SENNA SEASON
CMEThis is my analysis of this stock, and I hope you will take it into account. I wish you much success
GMEGrabbed puts today. Looking for this thing to get cut in half to test weekly demand by end of the year possibly.
GME | GameStop | $GMEVideo breakdown of what looks like a short trade in GameStop...
Time will always tell.
Control risk 1% and 2:1 RR
GME 12 Month Anticipated moveThis stock is tampered with way too much. Its pretty much dead until something crazy is announced by the con artist Ryan Cohen
BatMan Torch Theory - BTTLooking at the data revealing its path, just like torch light all it needs now is predecting on what its projecting ahead.
December 13 :
Feb 23rd :
$GME rare opportunity 👁🗨
*This is not financial advice, so trade at your own risks*
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management*
Here @SimplyShowMeTheMoney we strive to educate our traders on the importance of being able to recognize rare occurrences in the market structure on a chart. Today GameStop $GME presented us with a rare opportunity in its structure that my team simply could not ignore. We watched $GME open at 12% and shoot up to around 20% before retracing all gains back down to the negative 1 hour before the final bell. This comes as we enter a busy earnings week with a 2-day fed meeting that begins tomorrow and numerous data reports that could ultimately dictate the direction of the feds and the market.
$GME is no stranger to making headlines. With midterm elections right around the corner we wouldn't be surprised if $GME made a ridiculous move in either direction.
My team was able to secure shares of $GME at $28 while it was red this afternoon. We have an automatic stop loss set at $27 due to the obvious risk factors associated with $GME.
Entry: $28
Stop loss: $27
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