Triple_Barrel_Capital

Triple_Barrel_Capital

$SNE Sony appears to be approaching a buy point after bouncing off support at $72.50 recently and forming an island reversal. Monitor for a close above the blue downtrend line (~$76) for confirmation. Two big catalysts coming over the next month: 1) Earnings expected at the end of October 2) PS5 is officially being released on November 12th - just in time for the...

Triple_Barrel_Capital

$FIS Fidelity National Information Services - finding support at the 200d ema line this week after recent down move. Expecting to see a bounce from this level near term. Note - earnings coming up at the end of October. Unusual Bullish Options Activity Today $4.1M of $145.00 strike (OTM) Jan'21 calls traded (14x open interest) Near term target - $150.00 by early...

Triple_Barrel_Capital

$CLNY Colony Capital (REIT) - recently broke out of an ascending triangle pattern and above its 200d ema. Expecting a strong move into earnings in early November. Monitor for for close above $3.25 for confirmation of bullish near term move. $1M Bullish Options Activity Today Put sale - $800K of $3.00 strike (ITM) March'21 puts sold (20K contracts - 108x open...

Triple_Barrel_Capital

$SEDG SolarEdge broke out today and closed above recent resistance just under $310. Expecting to see a strong follow through move near term heading into earnings. Unusual Options Activity Today - Bullish Put Sale $8.6M in $200/$220 strike (OTM) March'21 puts traded today (18x OI/5x OI) In my opinion, this is a great trade because there is strong support around...

Triple_Barrel_Capital Updated 

$DKNG DraftKings bouncing off support today just under $42, forming a possible bullish hammer on the daily chart. Bullish near term options activity today with $1.4M of $43 strike (ITM) calls expiring this week traded (30x open interest) Near term target: $55-$57 range by mid-November Note: This is NOT investment advice.

Triple_Barrel_Capital

$Z Zillow bouncing off trendline support today, finding a bottom just under $97. Assuming support holds, expect a near term bullish move heading into earnings. Bullish Options Activity Friday: $1.8M of 11/6 $113.00 strike (OTM) calls traded (62x open interest) Near term target: $115-$120 range by mid-November Note: This is NOT investment advice.

Triple_Barrel_Capital

$FB Facebook - Not the cleanest looking Head & Shoulders and this would definitely be a risky short, but I could see this closing the gap from July 31st at $235.00 in the near term. Given the current trajectory of the 200d ema line, that would likely provide additional support at that level to prevent any further decline. Bearish Unusual Options Activity...

Triple_Barrel_Capital Updated 

$SPCE Virgin Galactic - Cup & Handle 20%+ Upside For confirmation, wait for a close >$22.40 (likely today or Monday) Target: $27.50 by early November Additionally, we saw some bullish options activity today: $2.1M of $23.00 strike (ATM) 10/23 calls traded (5x OI) $800K of $23.50 strike (OTM) 10/23 calls traded (13x OI) $700K of $24.00 strike (OTM) 10/23 calls...

Triple_Barrel_Capital

$SPWR SunPower Corp closed today outside the upper limit of a recent bullish pennant. Expecting to see a strong follow through move in the near term. Bullish Options Activity 2,900 $15.00 strike (ITM) Oct 30th calls traded today (22x open interest) for $750K in premium. Near term price target: $20-$22 range by early November Note: This is NOT investment advice.

Triple_Barrel_Capital

$ABBV AbbVie Inc. - Looking like a possible double bottom just under $86 after about a two month bear move. Expecting a strong move in the near term once this can clear the 200d ema (currently ~$89.00). Note: earnings upcoming, expected 10/30/20. Huge Bullish Options Flow in this name today: $122M in January'21 calls traded today (varying strikes, most deep...

Triple_Barrel_Capital

$NFLX Netflix - Bull Flag Breakout Long term target: $700 possible by March *This obviously assumes continued strong subscriber growth and Neutral-to-Positive earnings reports. (October & January) Note: This is NOT investment advice.

Triple_Barrel_Capital

$MMM 3M Co. - Long Term Bull Flag, Bullish Options Activity 3M slowly approaching a break out of a long term bull flag pattern on the weekly chart. Monitor for a close above $171. Bullish Options Activity: $5.3 M in $165.00 strike (ITM) Dec'20 calls traded today (18x OI) $3.9M in $170.00 strike (OTM) Dec'20 calls traded today (8x OI) Medium term target: $182.00...

Triple_Barrel_Capital Updated 

$JKS JinkoSolar Holding Co. - RSI and volume trending down after a huge parabolic runup recently. Expecting a near term retrace sub-$50. Keep a close eye on the 20d ema line on the hourly chart. This has held up as support this entire run. A break below this line will confirm the downward move is underway. Recent Bearish Options Activity: 15k $55.00 strike (OTM)...

Triple_Barrel_Capital

$WKHS Breakout on 3x Avg Volume Today Bullish Options Activity $6.5M in $45.00 strike (deep OTM) April'21 calls traded today (5x OI) - just to get to $45 we would have to see a ~70% move from today's closing price. Near term target: $36-$39 range by mid-November Note: This is NOT investment advice.

Triple_Barrel_Capital

$MSFT Microsoft with the strong breakout today on above average volume. ~$216.40 has been a key level recently - monitor for a pullback and successful retest in this area for optimal entry. Lots of bullish call buying today on this name. Of particular interest is the 25k $235.00 strike (OTM) 10/30 calls traded (21x OI) for $4.3M. These are well outside the...

Triple_Barrel_Capital

$ARNA Arena Pharma - Approaching a long term resistance level today at $80.00 - anticipating a near term retrace. Unusual Bearish Options Activity - 5k $70.00 strike (OTM) Dec'20 puts traded yesterday vs open interest <250 or 23x OI for over $4M Near term target: $70-$72 range by early November Note: This is NOT investment advice.

Triple_Barrel_Capital

$WORK Slack - Hitting resistance today at $30.50 and beginning to retrace. Unusual Bearish Options Activity Yesterday - 12k $30.00 strike (ITM) Dec'20 puts traded vs open interest <2k or 6x OI for a total premium outlay of $5M Near term target: $25.00-$26.00 range by late October Note: This is NOT investment advice.

Triple_Barrel_Capital

$ADBE Broke out of a falling wedge pattern to the upside today on the daily chart, held the 20d ema line as support and closed above recent highs. Expect to see a strong continuation move in the coming days. Also of note, we saw some bullish unusual options activity late last week with 5k $420.00 strike (deep ITM) Jan'21 calls traded Friday vs open interest <300...