Trade of the Week
Quick Weekly Option Trade in Social Media Leader
Meta Platforms (META) shares of the social giant are reclaiming its monthly value are and showing great strength since rebounding post earnings and firmly holding above its YTD VWAP now which is 456 and closed Friday near highs back over the 470 value area low which...
ETF Sector Corner: Real Estate Group Nearing Multi Year Trend Inflection Amid Interest Rates Peaking
iShares US Real Estate (IYR) – This ETF offers exposure to the real estate industry within the U.S. equity market, an asset class that has been recently overlooked by many investors following the unprecedented housing crisis. IYR follows the Dow Jones U.S. Real Estate...
Bull Put Spreads in Beaten Up Streaming Name Forming Bottom
Roku (ROKU) has been sluggish since the selloff on earnings back in February but since then has spent a lot of time basing and carving out a bottoming pattern near 60. The stock has its one year POC of volume now just above here at 63.50 and pulled back to the 8 EMA...
Quick Weekly Option Setup in Railway into Conference
Union Pacific (UNP) shares of the railway are forming a solid bull flag right on top of a cluster of support with its monthly value area and 55 day MA near the 244-245 zone while the 21/55 MA bull cross also crossed over higher Friday. UNP is normally a quiet...
Bull Put Spreads in Software Name with Large Bull Flow in OI
ServiceNow (NOW) has been carving out a nice bottoming pattern since it pulled back after its earnings report and found support near the 700 zone of higher volume area. NOW closed back over its 21 EMA last week and now looks comfortable to stay above that 700 level...
Quick Breakout Trade Setup in Metals Giant
Freeport (FCX) shares of the metal king are are forming an explosive bull flag above the 50 level and all dips are being bought lately as copper futures continue to show fantastic strength in the metals complex as they seem on a path to $5/pound eventually. FCX has...
Credit Spread of the Week: Tech Leader Looks to Bottom
IBM (IBM) shares are down 12% in the past month and last week bounced right on its 200-MA with a ton of support in the $159-$164 zone, also the 50% retracement level at $161. IBM has 10,000 June $155 short puts in open interest and 4400 January $170 short puts Trade...
Weekly Options Technical Trade Set-Up
Caterpillar (CAT) gapped down on earnings and has quickly stabilized, the bounce faded at the 8-MA Friday but above leaves a nice volume pocket back to $355 and potential gap fill for a quick weekly trade.
Open Interest Radar of the Week in Regional Bank Set-Up
Truist Financial (TFC) is trading in a long weekly flag after inflecting the downtrend and sits right under the AVWAP off 2022 highs. A move above $38.50 would leave a large volume zone and into a big volume pocket measuring back towards $50 while the 200-week EMA is...
ETF Sector Corner: France Breaking Out to All Time Highs Ahead of Paris Summer Olympics
iShares MSCI France ETF (EWQ) – This ETF offers investors exposure to the European market of France by investing in securities that trade on the national stock exchange of the nation. Since many of the large caps in this fund are likely to be found in...