Facebook has earnings tonight and implied volatility is up for their options. I was able to sell a Feb Wk 1 172.50 put for .64. The IV was about 80%, so even with a small gap down the IV should be sucked out immediately in the morning.
With the last two days candles making a tweezer top and almost a tweezer bottom (missed it by a nickel). This could signify pressure building in either direction for a quick bracket swing trade bearish or bullish whichever triggers first.
JNJ had a massive move down on their earnings. This is one of the largest candles I can even find on the chart for JNJ. As is approached the 50EMA I was looking for Bull Put Spread or Put Sale premium. Because of dividends being at the end of February and the 200 SMA down around 134. It seems like a no brainer.
PETS had a good gap down on earnings. They beat earnings, raised their dividend from .20 to .25 but traded down on their guidance. It is bouncing off the 20EMA a bit intraday. I do not mind owning shares down at $40 which is almost another 20% down, past the 50EMA/prior support, and would be right at the 100 SMA as well as more support. Let's see how it works.
