My Options Play

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Quote from cnms2:

This stock seems long term pointed down, and it ended the day on a down note too. The daily chart shows a complete cup and handle formation that points down. Are you in it? Are you looking to open a position? What's your forecast for it? I'm interested in pinabetal's view for tomorrow too.
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Yes I opened a small position today, playing the earnings announcement against tomorrow's opt exp..

This was not a regular trade, more like a directional bet for pure fun and enlightenment..

I will let pinabetal answer your question on APA.

Good luck !!!!

Cheers
 
Quote from cnms2:

This stock seems long term pointed down, and it ended the day on a down note too. The daily chart shows a complete cup and handle formation that points down. Are you in it? Are you looking to open a position? What's your forecast for it? I'm interested in pinabetal's view for tomorrow too.
More...
Why do you say it ended the day on a down note? I say it ended on up note. Curious as to why you say that.
 
Quote from optionpro007:

What do you think about HRB ?
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I like to find a general trend I think it will do the next day.

Then I like to find the early move and have a strategy for either way.

I will give my take on both st with some entry prices.

HRB- I think it will make a higher high. However, if it doesn't break thru the fairly strong resistance around 24.00-24.10 area pretty quick in the session then I would look at shorting around 23.80 to 24.00. If it breaks thru early in the session then I would watch the intraday tape and short when it appears to top out. I would cover the short the same day on any good profit. I would not attempt to go long tomorrow the 18th.

APA -I think they will take it down first so I would look at going long around 65.60 to 65.80 area then sell on any rally that reaches 67.40 or above OR hold and sell the next day if it looks like the close will be up.

If instead it is taken up first then I would look to short at 67.90 or above when it appears to take on intraday tape. I would then cover the same day.
 
Thanks!

For your reference HRB sold off modestly after the close on bad earnings....closing @22.65

Does your assessment change based on this ?




Quote from pinabetal:

I like to find a general trend I think it will do the next day.

Then I like to find the early move and have a strategy for either way.

I will give my take on both stocks with some entry prices.

HRB- I think it will make a higher high. However, if it doesn't break thru the fairly strong resistance around 24.00-24.10 area pretty quick in the session then I would look at shorting around 23.80 to 24.00. If it breaks thru early in the session then I would watch the intraday tape and short when it appears to top out. I would cover the short the same day on any good profit. I would not attempt to go long tomorrow the 18th.

APA -I think they will take it down first so I would look at going long around 65.60 to 65.80 area then sell on any rally that reaches 67.40 or above OR hold and sell the next day if it looks like the close will be up.

If instead it is taken up first then I would look to short at 67.90 or above when it appears to take on intraday tape. I would then cover the same day.
More...
 
Quote from optionpro007:

Thanks!

For your reference HRB sold off modestly after the close on bad earnings....closing @22.65

Does your assessment change based on this ?
More...
I have the close at 23.85. Maybe I have bad data?? What do you show the close at?
 
Quote from optionpro007:

Thanks!

For your reference HRB sold off modestly after the close on bad earnings....closing @22.65

Does your assessment change based on this ?
More...
so where do you think it will open at?
 
Quote from pinabetal:
Why do you say it ended the day on a down note? I say it ended on up note. Curious as to why you say that.
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I took a quick look at HRB's last two hours of trading, and noticed bearish divergences on MACD, MACD Histogram & Chaikin Money Flow. See attached.
 

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