I just took a look at WB's chart because it's earning report along with SINA are due out tomorrow morning. That chart is uglier than I thought. Clear bear trend with resistance twice at its 50-day ma. Looks like you jumped nicely into that counter trend. I think earnings is going to push it back into its current trend and I wouldn't be surprise if we drop below $80.
WB went back up! Unbelievable. That hurts. I left too much profits on the table. Oh, well over and done with!
I do that a lot, but you can never go wrong taking profits. For now, I've started a position using NVDA Aug 255 calls playing the momentum ahead of earnings with its report on Aug 16 after hours. I also like UAL here for a longer play as it breaks out of this flat base (more like a flag to me). And I don't like DIS, WB, NTES, or SINA as earning plays. Too many uncertainties for me. I'm keeping my eyes on TTD though with the report on Thursday after hours.
Used to trade NVDA but, the premiums got too rich for me. Did not want to plunk down $1,000 or more on 1 contract of a call or put option.
TSLA just skyrocketed today. Got halted by authorities then, resumed trading went up $39.00. Wow, this is looking like the beast!
OI, 4 days up and today a topping tail. Maybe a pause coming for a day or two before heading for a new 52 week high? [SP500, 1 month, daily candles & 20dma]
I grabbed a tsla aug 10 360 call right after elon musk tweeted. They were trading in the $9-$12 range. This wasn't a planned trade, just based on what I saw on CNBC at at noon. The initial report that came out was that the Saudis had positioned themselves with a ~5% size on TSLA and shares ran from $341 to $355, then no more than 10-15 mins Elon Musk tweeted and shares jumped into the $360-$363 range. I felt that those two events might be connected (still all rumors even right now), so I bought 1 360 call expiring this week. Didn't want to use more than $1k where I could take a full loss at this point if that was the result. Everyone that came in to talk about TSLA were fairly bearish too. I was out of my office, so I didn't see when TSLA was halted, but came back just in time to see it open again at 3:45pm. Watched it pop to $387. Imagine the shorts are going to get crushed, so right now, I'm looking into all the details, and I might put in a bigger position into TSLA using $5-$10k risk. After all, I locked in about $12k already this week, with most coming today from the exit in FB near 187, and locking in gains from TWLO and ETSY calls. I didn't have time to play any earnings today, but looks like I was right to hold off on DIS and SNAP. SNAP was clearly a given with the odds heavy to the sell side. I'm not sure what the buyers were hoping especially after watching TWTR and FB both get crushed. I do have UAL and NVDA calls with UAL Sep 82.5 calls and NVDA Aug 255 calls. These are heavier positions because I don't plan to play through any earnings. I'm going to be out of NVDA before the 16th unless I make enough to take on that earning report.
That was quite the ride on TSLA. Bulls and bears were arguing on Stocktwits. Bulls rubbed it in when it started going up big!
I wouldn't doubt that, but I feel like the SP500 wants to hit a fresh high before settling back. Like I said though, most of the earnings are done and DIS today wasn't as good so we might see a bit of selling tomorrow. Jeff, are you still holding those SPY 183 calls? I have those on my streamer and have watched them fly from 1.60 to 3.30. That's one hell of a move.