PLAY > BuyPLAY > Buy
> On this price break Phase C LPS Wyckoff accumulation.
> Stocks change the slope of the price frame. Run up top!
> Buy follows a trend on this price.
> Risk/Reward Ratio: 2.04
PLAY trade ideas
PLAYMID-TERM: Ascending Triangle with 4hr triple hidden bullish divergence and potential daily hidden bullish divergence, $27.25 is a major resistance, but if that can break, very low resistance. (Not financial advice)
PAY to DAVE & BUSTERS ENTERTAINMENT DailyHey traders, DAVE & BUSTERS ENTERTAINMENT is a bearish fake conguration with attempted buyers rejected and low sell volume traded. Looking at the TIMEFRAME M1 we see a marubozu in a stock market panic with an unusual level of sales volume. It go to its last low point to make its reversal there is a chance of breaking out the price. To then break the VWAP to go to the last higher before the TREND-BASED FIBONACCI EXTENSION will be broken with power (See MULTI TIMRFRAME H4 H1). AND if the buyers are really back start filling the bearish breakout gap with strong resistance on the TIMEFRAME H4.
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short as coronavirus wave 2 spread even morepeople would go to rests much less over next 6 months, projections on revenues and net income would decline if it would survive at all. price in bear flag now
Dave & Buster... will not see glory days any time soonAfter this rally on today's Dave and Buster's stock . I think we will see another retracement back to the 17.45 and perhaps even lower to the $16 level. this is a recovery stock and with the stimulus deal not being passed yet.. all it will take is a tweet and this puppy will crash.. if you are long I suggest securing some profit. I will be looking to short it
$PLAY Dave & Busters Entertainment Trade Setup
Downtrend broken last week and then back-tested as support.
MACD RSI Histogram all in bullish Reversal.
50 & 100 ma's support.
Powerful cup and handle move incoming?Currently making its way back up to test the top of the cup at $20 resistance. Also trading within an ascending channel (see link to related idea below). Reminds me a little of AMD, which consolidated in range for several months before breaking out with a powerful move to the upside. While PLAY is certainly facing more headwinds than tech, I see no reason why a break of $20 couldn't happen in the next several trading sessions, prompting a move to test June's former high of $24.80ish. Also remember that vaccine news, which could come at any moment (Trump wants this bad as his "October surprise"), could propel this even higher!
THE WEEK AHEAD: PLAY, ACB, PTON, CHWY, WORK, AEO, GDXJ, QQQ, EWZEARNINGS:
Some decent earnings on tap in terms of options liquidity and implied volatility metrics this coming week. Here they are, ranked by how much the at-the-money short straddle is paying as a function of stock price:
PLAY (33/136/35.5%):* Thursday after market close.
ACB (30/205/32.5%): Wednesday (time not specified).
PTON (66/125/32.4%): Thursday after market close.
CHWY (19/112/25.7%): Thursday after market close.
WORK (51/104/25.1%): Tuesday after market close.
AEO (36/108/22.6%): Wednesday before market open.
ORCL (42/47/10.8): Wednesday (time not specified).
Pictured here is an expected move short put in PLAY with a break even at 13.70, 9.5% ROC as a function of notional risk, 88.9% ROC annualized; 4.8% ROC at 50% max/44.5% annualized at 50% max. Look to take profit at 50% max or cover if assigned. Basically, another COVID-19 recovery play (along with airlines, cruise lines, and restaurant chains).
With ACB and AEO being under $20/share, my basic approach would be either short straddle or iron fly, with the latter set up to generate risk one to make one metrics.
Examples:
ACB October 16th 8/9 "skinny short strangle," 2.70 at the mid price.
ACB October 16th 3/8/9/14 "skinny" iron fly, 2.42 credit, 2.58 max loss.
AEO October 16th 13 short straddle, 2.90 at the mid price.
AEO October 16th 8/13/13/18 iron fly, 2.48 credit, 2.52, max loss.
With the remainder, I would generally just sell the 20-25 deltas:
Examples:
PTON October 16th 65/135 short strangle, 8.43 credit at the mid price.
PTON October 16th 65/105/110 Jade Lizard, 6.01 at the mid price (no upside risk, downside break even at 58.99).**
PTON October 16th 2 x 55/2 x 60/125/135 "double double" iron condor, 3.43 at the mid.***
CHWY October 16th 49/90 short strangle, 5.08 at the mid.
CHWY October 16th 45/50/85/90 iron condor, markets showing wide in the off hours, but would look to get at least one-third the width of the wings in credit.
WORK October 16th 24/41 short strangle, 2.52 at the mid.
WORK October 16th 21/24/41/44 iron condor, 1.00 at the mid (but also showing wide in the off hours).
EXCHANGE-TRADED FUNDS RANKED BY PERCENTAGE OF STOCK PRICE THE OCTOBER AT-THE-MONEY SHORT STRADDLE IS PAYING:
TQQQ (49/117/29.0%)
GDXJ (22/59/14.7%)
XOP (16/56/14.3%)
SLV (44/55/14.0%)
GDX (23/47/12.4%)
EWZ (21/48/12.4%)
XLE (27/43/11.6%)
USO (7/44/11.4%)
SMH (26/41/10.3%)
I don't usually play TQQQ because it's leveraged, but thought I'd keep an eye on it if it does a mid-March lather, rinse, repeat.
BROAD MARKET:
QQQ (44/38/10.2%)
IWM (34/37/8.5%)
SPY (26/30/6.3%)
EFA (23/24/6.3%)
IRA DIVIDEND PAYERS:
EWZ (21/48/12.4%)
EWA (27/30/7.7%)
IYR (24/29/6.9%)
SPY (26/30/6.3%)
GLD (31/23/5.3%)
TLT (17/19/4.3%)
HYG (23/16/3.3%)
EMB (13/13/2.7%)
* -- The first number is the implied volatility rank; the second, 30-day implied volatility; and the third, the percentage the next monthly at-the-money short straddle is paying in credit as a function of stock price.
** -- Currently, PTON is showing some horrible skew on the call side, which can be accommodated via ratio, Jade Lizard, or a "double double" iron condor.
*** -- Double the number of contracts on the put side with the short put at half the delta of the short call and the short call vertical aspect at double the width of the put side. Hence the term "double double."
PLAYmain watch this week, I like the flow slipping into low floats so im trying to slip into these early looking for an explosive move later in the week
also watching others with good setups
mainers for me UPS PLAY RVLV SRG
Alerts on TUP WKHS APPS GSX FVRR RKT
Holding Solar - VSLR FSLR NASDAQ:PLAY
Convergence Pattern Breakout1. Classic convergence breakout on 08/28
2. Outstanding volume
3. Entire restaurants industry rallied together: PLAY +16%, RRGB +16%, BJRI +14%, CAKE +8%, SHAK +6%, DRI +5%, etc
4. Sell-stop is set @15
PLAY has signals galore! 3 remaining and the top one is at $21I might be the most excited about this one. I have so many options lol and a variety of strike prices and expirations. The top target is $21, the others are $18.27 and $16.14
Let's go PLAY!!
NASDAQ:PLAY
Donated coins is appreciated
