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BA Wedge Break Weekly Options PlayDescription Watching this wedge for BA. A close over the descending trendline in the wedge will trigger a long. Seeing bullish convergence on weekly MACD. Some good news has come out in the last couple weeks, indicating fine time for a supply/demand shift. Using A call debit spread, because profits are always limited by time. Call Debit Spread Tentative Levels on Chart SL is a daily close back in the wedge. *Stops based off underlying stock price, not mark to market loss The Trade BUY 11/19 225C SELL 11/19 240C R/R & Breakevens vary on fill. The long call is placed ATM for higher chance of profit, The short call is placed to get the desired debit per contract. The front-week options play is to capitalize on a swift movement following the break. I will look at opening some 2 or 3-month options as well, because its a large pattern. Manage Risk Only invest what you are willing to lose
NYSE:BALong
by BarnardR
WMT Weekly Options PlayDescription WMT double rejection off 150, a decisive close below this level triggers a short position. Using A put debit spread, because profits are always limited by time. Put Debit Spread Levels on Chart SL > 150 *Stops based off underlying stock price, not mark to market loss The Trade BUY 11/26 148P SELL 11/26 135P R/R & Breakevens vary on fill. The long call is placed ATM for higher chance of profit, The short call is placed at the 135 support level. Earnings on 16NOV are a risk factor Manage Risk Only invest what you are willing to lose
NYSE:WMTShort
by BarnardR
AAPL Same Week Long Call Calendar SpreadDescription: Earnings after close, taking advantage of high IV on same week options and covering with next week's (Calendar Spread). Long Call Calendar Spread Levels on Chart R/R ~4:1 Positive R/R, stop loss levels built into position. Conveniently, Break-evens: 158.99, (2 stdev from open) 146.33, (~80% of 1 stdev from open) Intend to close before near term expiration. *Stops based off underlying stock price, not mark to market loss The Trade BUY 11/05 152.5C SELL 10/29 152.5C Position Addition: Will be running a limited amount of capital in additional same week OTM long calls to position for additional upside. These will be purchased at EOD. My Position: BUY 10/29 160C *The amount I am buying of the OTM calls here is equivalent to ~15% of total position size. Estimated Position Delta: .09 As you can see, my long long bias is negligible to the overall strategy. I will update with my fill and delta when I open the additional long calls.
NASDAQ:AAPL
by BarnardR
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