Options Setups for Friday
AMZN - Watching for a break above 311.50ish tomorrow, in the after hours session it was up nice due to the big beat in GOOG. IF AMZN gaps above the 311.50s level tomorrow I think its a gap and go candidate with 315+ as the target. I am long AMZN using a call spread expiring next week.
AAPL - I did a video on this over last weekend showing a bunch of reasons why AAPL is ready to go into new highs and this week is a great start. AAPL has been trading in very small 2-4$ ranges in the last few days and its been a long time since we’ve seen AAPL make a big move on a friday. Who knows, maybe tomorrow it breaks that streak. Im looking for a move above 507 in opening 30min tomorrow, if it does that I think that opens the door for a move to recent highs around 513.74. I am long AAPL using 505x weekly calls and next week call spread.
NFLX - A recent failed breakdown has NFLX right back staring at new all-times for tomorrow. Right now its in a small bull flag that I think is going to rip it higher into new highs tomorrow. The 335x calls are 1.00 right now and those might be the lotto play of the day. Lotto meaning, high risk high reward.
GOOG - Should provide really good trading action tomorrow as today after the bell it beat on its earnings estimates and ended up breaking into new all-time highs breaking well above a long 5 month channel. This could surpass PCLN in price in the near future. Anyways I am looking to daytrade GOOG tomorrow using my ‘easy options strategy’
GMCR - Although the long term chart is broken, I kinda like the contrarian play tomorrow for a bounce using a simple reversal strategy. Today GMCR closed under its 200day moving average closing down over 7%. On the surface thats weak, but to me this could provide a good short term dip buy opportunity. Watch for a break under prior low and then a rip back above it. Read more about reversal candles here
SCTY - After ripping about 50% in the last 5 days, today SCTY put in a big doji candle which could lead to a small pullback. But after a 20pt move a ‘small’ pullback could bring us back down to 49ish. Looking at next week puts for small swing short play. Ultimately I think SCTY is going to 100+ this year, just trying to find risk/reward trades each day.
HLF - Holding down in a bear flag formation and has not participated in the markets rally to new highs. I think this stock is just asking for a breakdown, just need to time it well. Watch for a break under 64 tomorrow for an entry into next weeks puts
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