Trade of the Week
Bull Put Spreads in Copper Giant Back at Long Term Support
Freeport (FCX) has pulled back nicely to a confluence of support with the 200 day MA and YTD anchored VWAP near 46 and looking ready to rebound with a MACD bull cross looming. A floor is likely in the mid 40’s level with copper also set to see more demand from China...
Social Media Giant Sets up Quick Breakout From High Tight Flag
Meta (META) shares are coiling for a breakout of monthly value area as it has spent the past month consolidating between 575-600 and closed last week with a strong weekly candle and Friday with an inside candle. META has a ton of bullish gamma for this weeks Nov OPEX...
Bull Put Spreads in Cloud Security Name Seeing Higher Floor Build
CrowdStrike (CRWD) has pulled back to the 300 level and formed a tightly coiled flag the past month holding up very well after a solid rally since the summer chaos lows were made and now looks to be forming a higher floor with 285-300 a strong zone of support. Options...
Weekly Option Setup in Streaming Leader in Post Earnings Drift
Netflix (NFLX) is sporting one of the most bullish post earnings flags near highs as it looks to likely be a earnings drift candidate into November with the $800 call strike above quickly becoming more of a open interest target as gamma levels lift. Like many stocks...
Bull Put Spreads in Beauty Leader Forming Basing Bottom into Shopping Season
Ulta Beauty (ULTA) has pulled back into the year-to-date point of control near 370 after the post earnings rally last month got up to the 200 day MA at 410. Now potentially forming the right shoulder of a massive, inverted H&S bottoming base since last Spring. A...
Weekly Option Setup in Semiconductor Coiling Tightly
Analog Devices (ADI) shares of the Tech player are coiling up in a tight squeeze pattern and Friday tried to breakout above monthly value before the market had a minor fade into weekend. The 230 support level sets up nicely for a dip buy or a move back over 232 can...
Seasonal Stock Setup: Healthcare Leader in Bull Trend with Bullish Seasonality
Cardinal Health (CAH) has been flagging near recent highs after a strong August gap and go post earnings that sent shares north of 115 before pulling back gently to support and now entering a stronger seasonal timeframe of November through February with 8 of the last...
Bull Put Spreads in Business Software Leader Back at Key Support
Intuit (INTU) has pulled back to key support now at its 55 week MA near 610 and the software name has largely been in a narrow range much of this year forming a tightly wound weekly chart between 600-660. As its near the bottom edge of that value zone it’s a prime...
Coffee Giant Brews up Quick Weekly Option Trade
Starbucks (SBUX) shares are coiliing tight in a flag pattern as it builds energy for that breakout into and above 100 after it closed strong Friday and cleared its minor trendline from the recent high. SBUX has held firm the past two months since its massive gap up in...
Bull Put Spreads in China Internet Name with Higher Floor Forming
Baidu (BIDU) has pulled back to key support now at the top of monthly value and a confluence of levels just below here near the 100-round number as the 200 day MA and YTD VWAP converge which should give the 100 level a floor of support from here. The China names have...