Watchlist for 8/11/2020
Coming into the market I was a little overwhelmed with the many "potential" trades. I recognized this after reviewing my trades and I plan on focusing on only a few stocks with the best odds for the rest of the week.
Closed out a swing Call on $PLUG for a safe +20%, but ended up trading it again for a few paper cuts giving back my gains. One thing I'm taking away from todays trades is that I cut losses quicker than previous Options trades. I also played the Puts on $JMIA, thinking it would have more downside, but once it reversed and broke through VWAP I closed the trade for a loss.
Below are the stocks I will be watching for Tuesday 8/11.
$OSTK - Looking for a second red day to play the Puts. I'm thinking this will be similar to $GSX.
$TSLA - Support in the low $1400s is appearing pretty weak. Will be watching for a crack of $1400 to play the Puts. Looking for roughly $100 downside.
$SRNE - Big runner making new highs into the $20s a/h. On close watch for a FRD to play the Puts.
$PBI - Nice up trending chart. Watching for a FRD to play the Puts.
$WKHS - Similar plan to $TSLA. Support is looking weak. Will look to play the Puts if nears $14 levels. Could potentially see $12s or lower once support cracks.
Staying familiar:
$GSX, $CENX, $SLV, $PLUG, $CNDT, $MCRB
Also I’ve been watching WKHS a long time . I took minor profits today on it . That stock is so hype dependent and is such a pump . I have been faked out on puts so many times , so I personally am careful ever holding o/n with wkhs but you def do you :).
I’ll take a look at PBI , otherwise All the others are already on mine :). Curious what PBI looks like.
I appreciate the feedback. I'll have to create a rule about reentering a trade after taking profits myself and add it to the list. I've been burned on WKHS before, but the chart is similar to that of TSLA so there could potentially be a trade there if support does decide to crack. Will definitely be a small position lol as for PBI it's a nice multi day runner. What goes up must come down (FRD) I like to think so anyway. PBI will be a speculative play as the volume on the options isn't all that g
great. I believe waiting for FRD on multi day runners provides the most predictable moves for Put Options. As we've seen with GSX. All is data collection for this month.
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