Thoughts on WMT? Seems to be stuck in a downward wedge but it's getting to the convergence point

On CRON - I'm selling all of the wave dip purchases....holding all initial entries.

gougler08 said:

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Thoughts on WMT? Seems to be stuck in a downward wedge but it's getting to the convergence point

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All financials are a pariah. WMT is close to filling that gap back to 10/6. Maybe its close enough that it won't completely fil it, since you can see support at these levels back to May 9th. Something feels off still on all of these like another shoe is going to drop.

BT1395 said:

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oldarmy1 said:

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I like BOX Jul 20 $32 calls at $.55

Target exit price $1.50

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I'm in! Now hold my hand through this....

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hope the price moves sharply up to 32 or slowly lose your $55 to time decay over the next 30 days.

AMD on a profit taking pullback. I'd target $14.75-$14.90. I have $16 covered calls that might lose enough premium to buy back over next few days.

DJI is right on that lower line now...let's see if OA is as good as we all think with tomorrow's open

OA or anyone else, just curious, what are your views on SQ as a long term hold?

Any opinions on IDT?

Head and shoulders on AMD?

tramaro1 said:

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Any opinions on IDT?

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That's a great chart on IDT. Breakout already confirmed with trend established.

oldarmy1 said:

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tramaro1 said:

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Any opinions on IDT?

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That's a great chart on IDT. Breakout already confirmed with trend established.

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What do you think about July 20 $8 call at $.05?

tramaro1 said:

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oldarmy1 said:

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tramaro1 said:

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Any opinions on IDT?

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That's a great chart on IDT. Breakout already confirmed with trend established.

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What do you think about July 20 $8 call at $.05?

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bad. Has a 10% PoP at expiration but also the option spread is the entire price of the option, tells me the liquidity isn't there if/when you would want to sell the option for a profit.

You are better going long the stock.

ESV (oil play) has a beautiful long set up with both a cup and handle as well as a falling wedge forming.

Manage your risk. I will probably buy calls and shares and sell puts once the trend confirms.

Completely agree.

oldarmy1 said:

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Completely agree.

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You still looking at that BOX July 20 $32 strike for $.55 (now $.45 I think) call? It's got a pretty low PoP also if I recall correctly.

Ragoo said:

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tramaro1 said:

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oldarmy1 said:

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tramaro1 said:

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Any opinions on IDT?

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That's a great chart on IDT. Breakout already confirmed with trend established.

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What do you think about July 20 $8 call at $.05?

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bad. Has a 10% PoP at expiration but also the option spread is the entire price of the option, tells me the liquidity isn't there if/when you would want to sell the option for a profit.

You are better going long the stock.

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Thanks, I am still learning!

WestTexAg12 said:

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oldarmy1 said:

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Completely agree.

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You still looking at that BOX July 20 $32 strike for $.55 (now $.45 I think) call? It's got a pretty low PoP also if I recall correctly.

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Yessir

The difference is the premium assignment implied. Take a look just yesterday when it had an intraday move between 35 cents to 85 cents. Valuation is responding to price movements exponentially. We want to see BOX move by next week or decay will end the trade by exiting at a loss.

BOX up 52 cents premarket. Watch the options move quickly back to 55 plus even though the shares are only trading in the $28's. For my target of $1.50 to be hit all the stock will need to do is move above $29.25

gougler08 said:

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DJI is right on that lower line now...let's see if OA is as good as we all think with tomorrow's open

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I'm just a caveman. I fell into some ice and later got thawed out by some scientist.....your charts frighten and confuse me.

Not every trade works exactly like you want it to. I entered GME at $14.21 on the volume spike when posted. When it hit $15.50 I sold a $15.50 covered call anticipating some consolidation but its been holding during the last few down days. I likely will lose 10% of the shares. If it stays at or above $15.50 I'm likely moving on to the next trade opportunity elsewhere - even though it breaking out of a Darvis Box likely means some trend higher.

CHK above $5 is sexy.

oldarmy1 said:

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gougler08 said:

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DJI is right on that lower line now...let's see if OA is as good as we all think with tomorrow's open

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I'm just a caveman. I fell into some ice and later got thawed out by some scientist.....your charts frighten and confuse me.

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AUPH has a good chart still.

Disclaimer - In it from $4.97 with target of $10 to plant it.

8 straight days negative with Futures up 137 a lot of sell the open likely by late buyers yesterday. 24825 DOW would fill the small gap down from June 14.

I have seen several referencing charts regarding "head and shoulders" or "coffee cup". I have seen some of these but have trouble spotting them without being shown.

I am new to TA and wondered what the specifics are when these are quoted? Is this from a 1Y Daily? 6 month Daily? 1Week Hourly? I use Think or swim for my charts and Tastyworks for trading. I'm just trying to figure out the best chart to use for selling credit spreads and buying calls/puts. Thanks for any input.

Agsrback12 said:

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I have seen several referencing charts regarding "head and shoulders" or "coffee cup". I have seen some of these but have trouble spotting them without being shown.

I am new to TA and wondered what the specifics are when these are quoted? Is this from a 1Y Daily? 6 month Daily? 1Week Hourly? I use Think or swim for my charts and Tastyworks for trading. I'm just trying to figure out the best chart to use for selling credit spreads and buying calls/puts. Thanks for any input.

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They form in all of the above.

Couple of recent "hot names" reaching major support areas by my eyes --

Dropbox at $34.50. Reloaded a few July 40 C for a spike back up
BOX at $26.75. Still lot of money in far dated August and September calls. Retesting of breakout area.
Zuora at $26.5 is potential support and where I previously bought. Hopefully will be support now

Waiting on a couple more names to get there --

Roku at 42.50
Pivotal Software at 24.30
Watching for Zscaler to hold this $35 area. if not, it'll drop to $31.40

Everyone's favorite IQ -- I finally put in a buy order for this one at $34.50. Hopefully that will be its support. However, I think it'll consolidate in a wedge pattern now for some time but we can nibble at that 34.50 price to accumulate for a larger move up in the second half of the year

I've been on vacation. I missed the fun.

Selling OLED Put here over a dollar in the money. Shares net are now owned at $81.72 so I have a stop loss at $81.

oldarmy1 said:

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Selling OLED Put here over a dollar in the money. Shares net are now owned at $81.72 so I have a stop loss at $81.

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what did you get filled at?

i've been trying to ROLL a contract all morning.

edit: just got filled

Ragoo said:

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oldarmy1 said:

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Selling OLED Put here over a dollar in the money. Shares net are now owned at $81.72 so I have a stop loss at $81.

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what did you get filled at?

i've been trying to ROLL a contract all morning.

edit: just got filled

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note: when I am rolling and am rolling to extend duration, add credit, but also lower the strike. I am shifting my position down with the movement of the stock, but adding a week typically each time. If there is a quick uptick or a prolonged rally I will exit at profit targets.

Howdy. I'm just getting started in trading. What are your thoughts on buying an 8/17 NFLX call? Their earnings report comes out 7/16. At what premium would you buy? Thanks

BQ_2010 said:

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Howdy. I'm just getting started in trading. What are your thoughts on buying an 8/17 NFLX call? Their earnings report comes out 7/16. At what premium would you buy? Thanks

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do you want ir have the funds to own the stock out right? If yes, buy the shares then sell the 8/17 $450 strike call for $15. You now own the stock at 395.

Ragoo said:

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BQ_2010 said:

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Howdy. I'm just getting started in trading. What are your thoughts on buying an 8/17 NFLX call? Their earnings report comes out 7/16. At what premium would you buy? Thanks

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do you want ir have the funds to own the stock out right? If yes, buy the shares then sell the 8/17 $450 strike call for $15. You now own the stock at 395.

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Also, it looks like it will have a further pullback and if it gets close to $405 you can sell the July 6th $400 Puts for close to $10 and if it is above $400 by expiration you banked $600/option (100 shares) but if its below $400 you own it at $390. On companies I want to own I do this a lot and have gone through multiple Put sales without getting shares - ending up making more than the appreciation of the stock had I owned it.

oldarmy1 said:

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Ragoo said:

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BQ_2010 said:

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Howdy. I'm just getting started in trading. What are your thoughts on buying an 8/17 NFLX call? Their earnings report comes out 7/16. At what premium would you buy? Thanks

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do you want ir have the funds to own the stock out right? If yes, buy the shares then sell the 8/17 $450 strike call for $15. You now own the stock at 395.

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Also, it looks like it will have a further pullback and if it gets close to $405 you can sell the July 6th $400 Puts for close to $10 and if it is above $400 by expiration you banked $600/option (100 shares) but if its below $400 you own it at $390. On companies I want to own I do this a lot and have gone through multiple Put sales without getting shares - ending up making more than the appreciation of the stock had I owned it.

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selling options