FriscoTrades

FriscoTrades

Taking a step back , although a continued down trend in SPY since JAN highs, after post Jackson Hole water fall it appears SPY is ready for another rally. Barring any Black Swan event , RSI on the daily is approaching oversold and price is near the bottom of the downward channel. While a "lower low" is still in the cards, the R/R favors the upside here and...

FriscoTrades

I went long debit spreads this morning on GLD, looking for mean reversion to 21DMA at the least Technically bulls have stepped in right where they needed to prevented further breakdown and defending the 157 zone support line that's played as a major pivot zone for 2+ years now. Quick move to $162 is first PT

FriscoTrades

CMPS is forming a nice bull pennant. First PT 24. Wait for break above white line (21 DMA ) for confirmation as an idea. Break below 14 invalidates trade.

FriscoTrades

Going on vacation out of the country for a few weeks. I like selling OCT $60 puts as an idea to help pay for the trip and more of a hands off strategy. Coin is down -10% today and been putting in high beta moves. However with a nice volume shelf and demand in the 60 zone, I don't mind selling cash secured puts for 6.75 in credit. Worse case, I get assigned...

FriscoTrades

From 269 to 326 QQQ just put in a massive rally! Do you go long here now ? Do you go short ? So much speculation and many still don't seem on board and are calling this a bear market rally... which is exactly why I wouldn't be surprised if we continue higher to 370 I opened some OCT Put debit spreads to hedge my current long port and will take it week by...

FriscoTrades

Market starting to show signs of a final melt up ? Just offering this bull case, of course we could certainly see 120 before 280, but 200 weekly MA has offered support in the past followed by strong moves up, less 2008 financial crisis and 2020 covid crash. So I guess real question for the bear case would be - what is the black swan event ? Because for certain...

FriscoTrades Updated 

ARKK - The bearish sentiment and hate against miss Cathie Wood is pretty strong as her flagship ARKK fund has gone from a high of $160 to low $35 this past week, nearly erasing ALL gains and now total 5 year return in line with the market at 13.8%. If you're a contrarian, you love the idea of going long here. I prefer technical and price action which as of now I...

FriscoTrades

What if... 100,000 by end of 2023 ? The Lazer eye movement might not be dead just yet..

FriscoTrades

After plunging below 25 Bros has made a nice run up to 42 with a high of 44.8 But notice the wick of today's candle, as price entered the over head supply (as evidenced by the volume profile) sellers overwhelmed the buyers and the stock closed 2$ down. IF YOU'RE A SCALPER OR DAY TRADER , THIS IS THE TYPE OF SETUP TO LOOK FOR A QUICK SHORT - Initial price tests...

FriscoTrades

Wow what a rally - from 3639 to now 4155!!! Question is : was this just a bear market rally and are we going to see another leg down.... Or is this a regime change and the start of another bull run to 6000 ?! Although I have completely no idea :) , I do know where we are at now is a major indicator and inflection point IMO of what's to come for the remainder...

FriscoTrades

BOIL natural gas play has one trader opening 1500 87 calls and technically price is resting on 21DEMA and trendline support after a nice retracement from monster 39 - 106 rally . Expensive options I like call debit spreads to cap risk. First PT - 88

FriscoTrades

Mr. Market has had a nice rally from sub 400 to now trading 410 zone and right at the daily 100MA Could be a major inflection point as we head into next week and a lot of supply overhead now on what is basically a pump from Apple AMZN and a few other earnings as well as the result of net short option positioning , and lack of sellers "in the hole" . If you...

FriscoTrades

TMUS since FEB's gap up on earnings has been grinding higher, with a nice pop today after ER on good volume Option flow is pretty bullish, especially leaps on the 160C JAN 24 and JUN 23. Personally I'm hoping for a retest of the breakout zone where I will go long i.e. BRB - breakout retest bounce - with 145 and 151 zone upside targets. Post ER and Post Fed...

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Celsius CELH is breaking out higher now and looks like it wants at least 87 supply test. Name is leading right now relative to the market Options a bit pricey, I like put credit spreads or call debits here for AUG

FriscoTrades

Bitcoin seeing some buyers and possible accumulation with volume uptick and testing resistance now. Above 23,000 can see higher for as much as 28,700 gap fill. Will probably need some consolidation along the way, no straight lines up but above 23,000 I like the long bias. Rejection here and it's most likely back down to 19,000 support . From there we see if...

FriscoTrades

Nice rounded base and coming out of resistance zones with a strong +6% day - DUOL , science based learning platform. I like the AUG 115/120 debit spreads as I still am weary of this market pulling the rug. However a lot of individual names are starting to look bullish breaking out of bases... like Duol :) Cheers

FriscoTrades

After being struck down -7% post ER and general weak market, I like the idea of selling puts on NKE via an Iron Condor (bull put spread and bear call spread). With a demand zone 95-100 area, I opened 2x position 100/95p bull spread and 1x position 125/130c bear spreads with another 1x to be added on next green week ( assuming we get one) to capture better call...

FriscoTrades Updated 

Today a trader opened a bull risk reversal on Domino's Pizza buying over 700 SEP $400 calls and selling the $300 put. This is a very bullish trade and not too far out , indicating a potential move up to $400 in the near term. Technically, DPZ has a bullish EMA cross and curl on the daily, with a weekly MACD bull cross forming as well. Trading at $377 now, I...