GILD
GILD Double White Candles Test ResistanceGilead Sciences, Inc. is testing the resistance to begin completion of this longer-term bottoming formation. The W bottom formation has tiers of resistance to overcome. Hybrid Leading Indicators show strengthening pattern.
THE WEEK AHEAD: INDA, GDXJ, XBI, XOP; X, AMD EARNINGSPictured here is an INDA (66/29) short strangle in the June cycle set up around the 25 delta strikes. Paying 1.00 at the mid, it has break evens of 32.00/39.00, a buying power effect of 5.65, and delta/theta metrics of .68/1.98. Unfortunately, it doesn't have the tightest markets, so expect a little price discovery should you want to get a fill.
On the remainder of the exchange-traded fund front, GDXJ (54/30), XBI (25/28), and XOP (25/32) round out the top symbols ordered by rank; XOP (25/32), OIH (27/31), GDXJ (54/30), and EWZ (14/30) are the top symbols ranked by 30-day implied.
Because I don't have any gold on at the moment, I'm leaning toward putting something on in GDXJ: the June 21st 28/33 short strangle is paying .97 at the mid with 27.03/33.97 break evens, a 3.90 buying power effect, and delta/theta figures of .13/1.92.
And while we're well into earnings, nothing stunning pops to the forefront with ideal volatility contraction metrics, AMD and X appear to be the most amenable to that type of play with >50% 30-day. AMD (48/67) announces on Tuesday after market close, and the down-trodden X (54/56) announces on Thursday after market close. Both are also small enough to either short straddle or go 30 delta short strangle.
Selling the cannabis bubble Here we can see the beginning of a large sequence to the downside in many cannabis stocks. I am going short across the board here as the sector looks very soft and recommending all to write upside volatility or simply short the common stock for infinity.
From a technical perspective we are struggling at heavy resistance and beginning a new sequence to the downside.
Sit tight, the global downturn is coming.
[GILD] phase 4 -> don't buyThe price fell 372 pp! The slope of 30MM is negative and we see clearly a resistance. Don't buy.
#IBB possibly bullish.. if there is continuation. Otherwise, watch the resistance levels acting as support. (no position)
GILD - Stock falling to 57 handleSetup:
It was noted that GILD could be dropping to 73.878
Our setup is complemented by the following:
1. Multiple timeframe analysis
2. Divergence
Approach:
Our trade strategy is as follow: We will open two consecutive trades, they will both have the same stop loss but different take profits.
Trade 1:
Entry: 71.94
SL: 74.35
TP: 62.39
Entry: 71.94
SL: 74.35
TP: 57.46
It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.
Risk & Reward:
Total Risk:
2%
Total Reward:
10.2%
Good Luck :-)
GILD - Selling Naked Puts$78 Feb 9th Puts executed at $2.10
L.T. bullish bias. GILD at support level. Time premium very high especially considering only 4 days till expiration. If price is ITM and shares are exercised, my buy price is $75.90. I can sell calls at that time &/or do a swing trade.
D: -.4623
G: .1295
T: -.1534
IV%: 65% (versus 37.8%)
W:
GILD - Naked PutsI like the looks of GILD. I'm selling puts to collect premium and maybe enter long position if the option is exercised.
1M:
1W:
Gilead Sciences offering a beautiful long setupTraders, i wanted to share this setup with you that i am trading.
I have had this stock for a while on my watchlist, and was waiting for a correction to buy the dip.
I like to buy low (cheap) in strong stocks showing upside potential.
I particularly was watching the 72$ level (200DMA, 61% fibo this is a big level. The bulls seem to have made a bottom now on this level, and finished the week with a bullish engulfing pattern, engulfing the previous 3 days.
For me this is a sign of higher prices coming in the coming days and maybe weeks.
I am targeting 80$ but keep also an eye on the 76.50$ level. If you like to wait for a small dip into 73.00$ you would get an astonishing R:R of 8:1.
Placing my stop below the the engulfing bar and will manage the trade accordingly.
Hope you like this setup :)
Thanks for reading, and blessings to you all.
GILD Pullback and bounce off previous resistance turned supportGILD Pullback and bounce off previous resistance turned support. Entry 72.80, Stop 71.48, Target 79.87
$GILD - Strong Fib bounce off of .618 areaGILD broke down from ascending channel. Seems to have found Fib support around $72.40 (.618) and rebounded strong.
October 26 Earnings: Gilead - Flying the KiteGilead's core product pipeline, including recent FDA approval is set to soar as key drugs and generics are continuing to outperform.
The company's recent acquisition of KITE Pharma came at the perfect moment with KITE being granted a key drug approval by the FDA.
Gilead's recent cost cutting efforts and R&D focus are to further push growth prospect and boost overall FY guidance.
Generic competition will continue to weigh, however, and limit some blockbuster drug expansion.
I'm starting Gilead with a $90 PT for an extended post-earnings move.
A S/L at $75 around recent area is advised.
GILD new up rise wave.GILD is about to begin new upward trend takes prices to new high. Watch it for
GILD Covered Call SOLD -1 GILD 100 17 NOV 17 90 CALL @1.00
Adjusted Cost Basis $87.70
Just a few hours ago I didn't see any chance of turning a profit on this investment any time soon. Unexpectedly the stock rallied over 7% today (now up 25% off lows) and above the average year end analyst target.
Expected Outcomes:
- With selling off the 'unlimited upside', if GILD is above 90 (19 delta strike) by Nov expiry and the stock gets called away, I'll at least have brought in 3.76% on my adjusted cost basis (plus dividend yield).
- If the stock is under 90 by Nov expiry the call expires worthless and I keep the credit to reduce my cost basis, and sell another call. This is about 80% probable this point, at 10% below the 90 strike and more than 2 months to expiration. If the stock pulls back sharply I will likely buy back the call and walk away with most of the profit, and aim to sell another call on the next rally in GILD.
I've been sitting on this dog for over a year, suffering through a 27% draw down at the low in June. The stock dividend yields 2.75%, which is at least something while you wait.
The stock is well rated, excellent price to free cash flow, but a 'value trap' with questionable earnings growth long term. Some of the apparent catalysts for todays big up move were acquisition of KITE and FDA approval of new class of gene therapy drugs.
So I jumped at the chance to make this into a profitable trade after waiting for many months. My main goals are to bring in cash flow, reduce cost basis, and reduce positive deltas to form a more neutral portfolio. Yes, it's entirely possible GILD could be worth double what I paid for it in a couple years and I'll have walked away with chump change. Or the market gets a long over due pullback and it's another year of sideways moves in the $65 - $90 range. Who really knows for certain what will happen?
long GILD play before and after earningsGILD is a value stock with cheap P/E. it broke downtrend recently and it may be a start of long uptrend. last 2 weeks were good volumes in this stock for an uptrend.
long with target price 75.9 before earnings. after earnings it could drop to 69 and if it holds 69 it can go up to 80.
