I'm in full positions on AMZN and GOOGL calls. The total risk for both came to $24.4k. I also added to TSLA Aug 370 calls with my risk on this position now at $6.9k. These are Aug options expiring next week. I'm playing on the SP500 hitting new highs within the next week. We're at 2855-2860 all morning and we need to jump above 2870. It's going to be a slow grind with all the large cap FANG stocks reporting already and most of the industrials already reporting too. Like someone mentioned there's buyback going on, but it'll be more of a grind higher than these 10-20 pt jumps. I'm still hopeful that we do hit a record high for 1-2 days. I'm not looking at anything longer than that (except for my UAL Sep 82.5 calls).
My trades
- Thread starter optionsinvestor
- Start date
So far today, the Dow 30 is the only major index showing any signs of weakness (the other indexes look ok so far).
On the micro chart below, the question is, will the Dow drop to its rising 400ma (grey line) for support?
[Dow 30, 2 days, 5 minute candles, 400ma, Pivot Points]
On the micro chart below, the question is, will the Dow drop to its rising 400ma (grey line) for support?
[Dow 30, 2 days, 5 minute candles, 400ma, Pivot Points]
Yep, that DOW remains weak because BA, CAT, and MMM were weak throughout the day. Add DIS trading lower -2pts due to its earning report and we're not going to get a green bar on the DOW at all. The only way this one turns green is if CAT and BA and bounce back. But overall, like you've said the market is very strong. AMZN and GOOGL were clearly powering higher getting close to their record highs already. I think both will need to hit record highs for the SP500 to have a chance at hitting its record high. I've continued to add to both and have about $26k in just those 2 trades.
For earnings, I'm still looking at TTD, but I also added ROKU here using a little over $1k. I figure at a total loss I'll just be giving back some of that gains from TWLO and ETSY earlier this week. ROKU Aug 10 $50 calls are the options I played for its earning report.
For earnings, I'm still looking at TTD, but I also added ROKU here using a little over $1k. I figure at a total loss I'll just be giving back some of that gains from TWLO and ETSY earlier this week. ROKU Aug 10 $50 calls are the options I played for its earning report.
OI, oil has pulled back again to its rising 100dma. As earnings reports become fewer, will money move back into oil?
[CLU8, 6 months, daily candles, 100 day moving average]
[CLU8, 6 months, daily candles, 100 day moving average]
Looks like another great call. ROKU is up $4 and that report was incredible.
Today the SP500 came within 10 points (2,862.44) of the record high of 2,872.87 set on
Jan 26, 2018.
[SP500, Year to Date 2018, weekly candles and price channel]
Jan 26, 2018.
[SP500, Year to Date 2018, weekly candles and price channel]
Thanks vanz, that one was a last minute play only because I saw it mentioned on cnbc. I did a quick research and want to see it break $56 (I believe that's the record high). Pre-market is showing 52.40 so I'm halfway there from yesterday's close.
I looked at this chart on Tuesday after news of Iran planning to flood the market with oil. In the first test of the 50-day ma back in June, I was still bullish because I knew demand should stay strong through the Summer months. Here in August, the Summer driving has about 3-4 weeks left, so demand is going to fall at least here in the US. I'm less bullish here, and that break below its 50-day ma doesn't do anything to help. Right here, I'd look at how it plays between $67-$70. A bounce above $70 and you'll see it right back to $73 with a strong potential to breakout. If it continue to hold below $67, then it should give way to $64. I didn't have volume out on the chart I was looking at, but wow looks like bulls exited this trade on Tuesday.
As for the SP500, I'm still waiting for that record high. Right now going into September, we should still see light volume as it is still Summer, and worse yet earnings for a lot of the large caps are over. Retail earnings will come into play, but individually, these stocks don't really have the power to move the SP500 like how AAPL, FB, GOOG, or AMZN could. As long as there are no major news, I think we hit record level within next 10 days. If you get some macro econ news, then this could be it and we'll have to wait for volume to come back in September to push the market back into a strong trend.
Closed out that ROKU call locking in +1900; also closed out the last FB calls with the entire FB 182.5 calls giving a gain of +6600. Also took a loss on QRVO at -500 (this one was actually green a couple of days ago and I let it turn red). I wanted to exit ROKU and use those profits to jump into TTD calls with that report due today. As for FB, the shares were bouncing back today and that might be it for now.
I've added another GOOGL Aug 1270 call and now have over $27k in GOOGL and AMZN positions. I'm betting big on the SP500 hitting record levels by next week, and these two will be that bet.
I've added another GOOGL Aug 1270 call and now have over $27k in GOOGL and AMZN positions. I'm betting big on the SP500 hitting record levels by next week, and these two will be that bet.
OI, is it possible when the SP500 hits its record high value of 2872.87, we could see a short term sell off?
Possibly from those investors who bought that record high 8 months ago might be thinking,
"damn, 8 months to get back to breakeven, I am bailing!