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Yelp Inc.

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YELP trade ideas

NEXT WEEK EARNINGS PLAY POSSIBLES: YELP, KORS, NVDACurrently, there are three earnings announcements next week that meet my >70% implied volatility rank, >50% implied volatility standards: YELP, KORS, and NVDA and that offer up at least 1.00 ($100)/contract in credit for my troubles. Preliminarily: YELP Aug 19th 26.5/38 short strangle goes for 1.09 ($109)/contract at the mid (Tuesday after market close). KORS Aug 19th 44/56.5 short strangle goes for 1.15 ($115)/contract at the mid (Wednesday before market open). NVDA Aug 19th 50.5/60.5 short strangles for for 1.11 ($111)/contract at the mid (Thursday after market close).
NYSE:YELP
by NaughtyPines
YELP breakdown but can it fill the gap?Initially, when I saw the gap down on YELP, I thought this stock looked good to short for a near-term gain. I usually concentrate on the weekly and daily timeframes and, with the gap down breaking through previous support, the $50 half figure and with higher volume, this looked like a great shorting opportunity - as there appeared to be no further support for some time. But a quick glance at the monthly chart showed a gap up in 2013 - at the same level YELP is trading right now. If this is an island reversal pattern then we should continue to see price fall - as analysis from the daily timeframe suggests. But, as I was considering YELP as a near-term opportunity, price could drop too fast - possibly gapping down again past the lower value of the 2013 gap up ($42.84). This means I may not get a position filled at the price I want. The safer option here is to wait for price to trade below $42.84. If this is indeed a reversal island then price should continue its bearish move down beyond this point.
NYSE:YELPShort
by iAnneTrader
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