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0K8J trade ideas

Options Idea: Buy The Oct '20 JWN Call Calendar Spread @ $2.35Nordstrom has been a big loser since COVID-19 and is on a long-term downtrend. However, it's been on a short-term uptrend since late August and just blew through its July highs. The next objective will be the early August highs around $17.50. Our goal is to ride the short-term trend for as long as it lasts during September and October. We don’t want to own this stock long-term, but we’ll hitch a ride on this short-term trend with a long-call. Since we’re not long-term owners of JWN we’re buying an Oct. 16 2020 call and we will sell weekly out of the money calls against it to lower cost basis. Look at the yellow trend line for a reference as to where JWN might be and that’s the area to sell weekly out of the money calls against this long call. Make sure your weekly short calls don't run up against the trendline. Here’s how we set-up the trade: Sold the September 11, 2020 $17.5 Call @ 0.25 Bought the October 16, 2020 $15 Call @ 2.60 Our objectives for short call income generation against this position are as follows: Initial Objective: $1.23 (Extrinsic Value of Long Call) Stretch Objective: $2.60 ($0 capital outlay) We on the way toward meeting our initial objective by selling the Sep 11, 2020 call at $0.25 and next week we’ll sell another weekly out of the money call to get closer to our initial objective. 20-JWN-01 Opening Date: Sep 8, 2020 Expiration Date: October 16, 2020 DTE: 38 IV: 93% IV Percentile: 56% Odds of Winning: 36.60% (before selling more short calls) Odds of Losing: 63.40% (before selling more short calls) Win: > 17.35 @ Expiration (before selling more short calls) Loss: < 17.35 @ Expiration (before selling more short calls) Cash Requirements: $235 Chart Legend Green Area: 100% Win Zone. If we finish above or in the green area, we’ve made a profit on our trade. Since our position has a long call that means our potential gain is unlimited after Sep 11, 2020. Up to Sep 11, we are limited in our gain by our short call. Red Area: If we finish in this area we have a loss. The size of the red area is the size of our maximum loss. Since we have no uncovered options, our loss is limited on this trade to the price of our long call minus the credit taking in on our short calls. 1 standard deviation, 2 standard deviation, 3 standard deviation projections from Opening Date to Expiration Date are included. Make sure to follow us on Tradingview for updates on this idea as we continue to reduce our cost basis in this trade.
NYSE:JWNLong
by OptionsCoach
Could push past ResistanceHey guys, been watching since last week as nordstrom started to beak out from recent lows and seems to be following the trend pictured. Based on a 30 day close RSI I believe that the price can continue to follow this trend to $21, more conservative amount $19, if it is able to pass the resistance at $17.82. MACD is also cycling back into the green, price should continue to go up for time being. I am fairly new to this, please let me know your thoughts. :) Still learning and as always this is not Financial Advice.
NYSE:JWNLong
by fz3a2bf2ag
JWN: Short Squeeze Pending???I have been trying to simplify my charting as of late. Fewer Indicators. Less advanced Math for the moment. Trying to Gain perspective. Here is a Chart of a Trade I like. Nordstrom is 5* rated Morningstar, and A-rated Profitable company. There is a very large short position ... slightly better than 30% of the Float. JWN has traded between 15 -16 since late June (last 3 weeks) A strong breakout above 16 should lead to a retest of the interim high of 25. The downside risk is probably 2 pts to a low 14 handle. 8 pt of Gain vs 2 pts of Risk. 4:1 Profile ... I will take it for a top retailer beat up by lockdowns.
NYSE:JWNLong
by Blur19
2
JWN broke through with Head and Shoulders| Strong support @ $12?After breaking through he last support structure shown in my last analysis, JWN has also confirmed a heads and shoulders, we expect JWN to continue falling into the next fib retracement level, if it breaks that, there are a few more support level with the strongest at around $13 where the recent low was before it started making the run up past $20. Head and shoulders suggest that it will drop to $7 but something bad will need to happen before that happens. A new floor needs to be found first. A good time to take profit on SOME of your puts if you're the risk adverse type. Risky investors can choose to ride their puts to a certain bounce before taking profit. Disclaimer: This is not investment advice, just my opinon. Consult a investment advisor for professional advice. I do carry JWN puts
NYSE:JWN
by medcore