iQIYI, Inc.Long
IQ Long Options Play Tomorrow & Possibly into Friday
Updated
IQ, as you can see on the hourly chart, every-time IQ had a large green candle following a large red candle during the opening hour or closing hour, it moved up significantly. There was 1 instance i found it took towards the 2nd trading day for the move. Based on this trend and the LARGE call buying today ( July 40 over 16k, 45 over 21k, 50 over 13k), i plan to buy the July 40c at open. I was looking at the July 35c also due to it being 76% in itm, but due to the Delta of the 40c being.64 i think that gives you a better bang for your buck. Please note IQ has had insane call buying and movement. I STRONGLY SUGEST TAKING THE PROFIT WHEN IT IS THERE OR WRITING THE 50C AGAINST IT AS THE PRICE MOVES UP. As long as the market behaves overnight i expect to see new highs on this stock tommorowTrade closed: target reached
IQ is up too high in premarket, let the stop pop and then pullback 42-42.50 then scale in back to 44-45, watch the 5m and 10m for the bottom reversale
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.