Stock price fell back under the 50 SMA and this Ascending Triangle. I have lowered my Buy Stop to $97 for the Submarine Basket position.
I was going through my normal daily review of the Swing account today and noticed something that hadn’t become apparent to me yet: All but 1 trade is Options only. The $RENT position is the only one where I have stock involved (it has Options as part of the trade too, a Collar Put Spread).
I don’t track the % of Option only versus combo positions but likely never been this high of a % of Option only trades. Cash on the sidelines … lol
Note: if you are not aware, I have a Positions tab on the Blog where I list all my positions (and try to keep it updated in a timely fashion – I do list the last update time/date at the bottom)
A trade idea that I am considering:
Long the May 29w 165/170/172.5/150 RRCF (L the 165/170/172.5 Call Fly, S the 150 Puts)
Cost: .40 debit
Here is a Daily chart on $KORS to start things off:
This Falling Wedge pattern has my interest – especially if the Earnings report gives investors some relief (it’s priced in!! lol). With that said, it is hard to ignore the May 29 weekly Option open interest for the Put side – quite a skew there.
Long the May 29 weekly 61.5/57.5 1×2 Put Ratio for a small debit
I have a Fab 5 position ($100 Roll) in $WDAY and it reports Earnings AMC today 5/26. Here is my current trade (on since 5/18):
Here is a Daily chart:
It looks like it wants to breakout into the report. I have elected to leave the trade as-is and just manage Risk in after hours if need be (if it breaks this Rising trend-line then I’ll tag along).
I have a trade on for Ross Stores (an Earnings trade) and wanted to highlight something that is a real clue for explaining the weakness post-Earnings in $ROST:
Do you see it?
I’ll follow up in a hour with the answer.