DERM is making a good chart patternDERM is @ around 4.00 and looks like going to close strong. Candle and volume is an Alpha
DERM trade ideas
DERM looking bullish againLooking to keep trending over the medium term. Looks like it is already reversing from the latest correction. From the last earnings and price action, it seems to be a lot more major upside for this stock.
A bullish candlestick pattern One of the most bullish candlestick trading patterns ive ever seen, in order:
- Correction after first large pump
- Reversal doji
- three green candlesticks with increasing size and almost no shadow
In addition to my previous idea, upside potential is very present.
Dermatology Pump incomingThe increase in buy volume (large volume buys) are stacking into this stock. A purely technical play but the trend+volume leads to the conclusion that a large pump upwards is coming up in the near future (3-6 months)
short term tradeBreak out of a solid bottom formation with high and constant volume. From a technical standpoint the prospect looks very good for continued upward action in the short term
DERM | Good Entry Point | OversoldJourney Medical Corporation focuses on the development and commercialization of pharmaceutical products for the treatment of dermatological conditions in the United States. The company's marketed products include Qbrexza, a medicated cloth towelette for the treatment of primary axillary hyperhidrosis; Accutane, an oral isotretinoin drug to treat severe recalcitrant acne; Targadox, an oral doxycycline drug for adjunctive therapy for severe acne; Ximino, an oral minocycline drug for the treatment of moderate to severe acne; and Exelderm cream and solution for topical use. It also sells doxycycline hyclate tablets, minocycline hydrocholoride capsules, and sulconazole nitrate cream and solution. The company was formerly known as Coronado Dermatology, Inc. and changed its name to Journey Medical Corporation. Journey Medical Corporation was incorporated in 2014 and is headquartered in Scottsdale, Arizona.
Another Nice Short to End Your WeekStrong price action because of failed drug trials for a competitor (ANAB)
Shorting here at 8.97. Targetting 5-7. Will place a trailing stop at 7.
$derm HIGH volume and Float.$Derm HIGH volume along with great float/demand = LONG
Its pasting previous highs and throughout the daily breakouts we have learned it will continue due to demand and volume.
DERM good R/R at support up trend. PT 12.00 NASDAQ:DERM
DERM has been bouncing off this trendline since April and it doesn't have a reason to fail now with an ER beat which was the first beat in the last. Great Risk / Reward setup here to get back up to 12.00 dollars and if we get that 200 MA break we can shoot back up to 20 dollars easy with FDA approval and more sales number coming in next ER as this was just approved.
DERM - Put Options Sold IV% for DERM options remains very high. I already have sold the 3/16 $25 Puts. I sold a couple more 3/16 $20 Puts. I will look for an opportunity to take partial gains on the $25P to reduce my overall risk exposure.
3/16 $20P @ $2.85
23 Days till expiration
DERM $27.22
D: -.0051
G: .0043
T: -.0011
V: .0008
IV: 245.42% (vs 49.92)
DERM - Selling Puts - Opened Limited Orders DERM - expect volatility. Overall, bullish outlook. Could have significant swings.
The options are so expensive right now it makes for an optimum to sell. I don't like either a credit call spread or any credit spread in this situation. Simply selling puts seems like the correct strategy.
I've placed a limited order to sell 3/16 $25 puts at $5.6, mid price between ask/bid. (current ask/bid is 5.2/6) I typically place limit orders at a more optimal price than mid-price, but the premium is so high I didn't feel the need to.
$5.60 premium (credit) pushes my break even (or buy price if the option is exercised) at $19.40. Based on the charts & overall bullish outlook, I feel pretty comfortable with that risk.
DERM 27.90
D = -.1892
G = .0716
T = -.0183
IV = 236.39% (vs. 49.29%)
Theoretical value is .43
DERM Fast Ball XRV Appears Ready For An Extension Move LowerDERM made a Fast Ball XRV move lower on Wednesday. The stock appears ready for a test of support at 24.03. We will look for a short-sale opportunity in early trading on Thursday.
NASDAQ:DERM
$DERM is breaking out$DERM looking really good to go higher. Chart is showing that it is beginning to breakout.
