As many of you know, I’m down in Vegas through tomorrow. Big national basketball tournament, and my 7th ranked squad is 6-0 playing in both 4th and 5th grade divisions. I’m going to be leaving with a few trophies then on to New York City this weekend, where the best financial minds will be meeting over a table of Ribeye steaks, scotch and cigars.
On to the market, for my After Hours with Option Addict members, I recorded a video on the markets that I will post to the After Hours with Option Addict blog in lieu of my absence. If any of you require any assistance, please email me.
My top ideas here are PCLN, SINA and TWTR. The other ideas we discussed last week, such as WUBA and GRPN have already started making their moves.
Post your top ideas. I’m looking for more trades to take.
My best,
OA
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sold WYNN for profits since they report tomorrow, but the chart was looking good.
Excellent move!
Not a high beta play but NKE looks like it wants to breakout. Options are cheap.
OA
JOY looks good if it holds the support trendline?
Yes, it does.
what about X?
I jumped in a shameless follow on earnings trade here for tomorrow. I got Aug 1 exp. $28.50’s for $0.33 on the dip this morning.
Me?
Yes, what about X?
If I buy another one today it’ll be USU.
I know on options you like buying lower, but on something like USU would you prefer to buy at support of this consolidation or set a stop buy order above say the HOD break?
glad I didn’t buy USU
NUGT
Good luck coach!
Has anyone asked about FSLR today?
Please do…lol
I like SDRL with a time horizon of a few months. Looks to be in aversion.
had a very talented 4th grade team..maybe some day we meet
We should touch base. Always curious about out of state tournaments and what not.
OA – Have you looked at $AT? Interesting volume profile above.
$YZC joined in the $ACH party, maybe I’m getting the hang of this!
Currency ETFs have extremely cheap implied volatility, near 5yr lows most of them.
Also a handful of country ETFs have very low implied volatility EWW,EWY,EWC,EWJ and others too.
Anyone have any opinions on direction on any of these names? Better to pick a direction with a slight edge than just play Jan2015 strangle.
Bot GOGO today off the low, more ZNGA because that has to be ready, and VEEV in a good location.
SPLK, same pattern as LNKD before it took off…
bought calls in ANF LULU YGE at the close.
any thought on DRL and KORS by chance?
In 1st grade I was on the worst soccer team in town. In 2nd grade we won the championship. We were buoyed by a couple of brothers straight outta Mexico City. Our coach was the father of the two soccer savants. He went missing midseason. Breaking Bad type stuff? I don’t know. I don’t know who took over coaching duties after that. OA, don’t go missing. I need hot stock tips.
I had a sense of that today but the father savant whispered in green tinted messages across my screen.
DE has dropped from $94 to $85. There has to be a trade here soon. What are your thoughts people?
I’m in for investment.
Got my X rated options for tonight’s party.
I hope they conclude in the grandest of money-shots…
Hope you got them at a steal.
steel snoop dogg and D.R.E
Fillmoe!
QIHU – why do you hate me?
So is everyone holding their YELP Aug 1 calls through earnings or cutting losses while there’s still some intrinsic value? It seems I always get crushed holding through earnings.
I don’t have that position, but I recently had something else over earnings and lost. So, try this: Ask yourself…will you be more upset if you hold and it goes to zero…or if you sell and it rips without you? Maybe the happy balance is sell most, but keep a little on that you can stomach going to zero. Hope it works out for y’all.
My official position is still a bearish biased straddle on COH and TNA/TZA.
DIE COACH!
anyone buying the VNET retest?
or is it a ‘failed’ move, with ‘quick’ to follow…
Thinking about it Yoshii…we’ll see how it looks into the close. If I do take it, it’ll be tomorrow morning. Might be the failed/fast, only one way to find out.
What if it pulls a JMEI, right back up the next day. I wish there were more strikes inbetween available.
good idea on patience, it is bleeding out.
CHUY looks cheap vs LOCO
If I can get $SALE Oct 30s for <=$1 before end of this week I am in it.
KSS looking interesting, too.
DDD back to life. Let’s tag $60 spot soon.
bot YOD
must be nice to be able to buy 1600 Mar 55 TWTR calls. People are placing some longer term bets in the options, or selling those covered calls while they can collect premium. Volume going up on those.
BWEN
Sold CLF +300%.
Natty looks great here. I’m holding my NG_F and may add some UNG.
Nice.
Added CREE and RRC
QIHU took a face shot and recovered and held 100 could be a good set up for the rest of the week.
bought calls in GALE and UNG and sold NTAP +100%
You seem to be moving nimbly through profitable trades now.
thanks. My goal this year was to learn option trading which is why I joined back in Jan but I didn’t start trading them until about a month ago. It’s been difficult understanding all the nuances but it’s coming together. I like leverage which is why I love trading the futures and how I know options are a good vehicle for me.
Looks like a sizable beat in X, not sure if it will be enough to move the needle significantly tomorrow. We shall see.
Conference call before the bell in the morning.
X 28.50 AH so far.
This could be really good tomorrow and in to Friday.
Props (again) OA !!
can you say 30 AH?
TWTR. i threw a couple calls at it before the bell.
I had to sell into that TWTR pop.
hey Jeff xxxoo TWTR X nuff said boss
holy smokes!.. OA strikes TWTR gold part deux!
Once again, $TWTR FTW!!!
Looking for more of the same from $X
Thanks OA!
Another bulls eye. Twitter! Well done Jeff.
Perhaps Fly can place 10% of his TLT with OA to trade….
Id do that in a heat beat.
Maybe spend a few minutes in the chat room and pick up a few gems like TWTR and X into earnings. OA is the BEST!
Go fuck yourself.
Ah – so you do pop in on occasion. Got it!
Hmm, methinks YELP might run tomorrow into earnings. Would you hold the Aug 1 75s into earnings Jeff? Technically the stock looks great.
Great work on TWTR guys. Well done.
‘It touched me in a dream’ – classic – great call Jeff
I couldn’t pull the trigger on TWTR because of the earnings risk – hoping my QIHU rallies tomorrow in sympathy
So what is the price target for TWTR? looks like a volume pocket between $48 $54
r u a retard
no everyone else understood it…
ribbit
Looking at finviz.com for Twitter news I’m amazed at how many mainstream outlets are talking about it. Thinking this will see some panic buying tomorrow.
SPLK is next. Same pattern as LNKD and TWTR. Aversion type pullback sitting at the 50 day. Earnings not until end of the month, but they might start buying it in anticipation.
SPLK does look good
ZU – Long
The twizzly twitter tweeter teaser twits a tatted twatt.
Good luck to your boys in the final.
X is having quite a rally as well – nice two-fer!
1000% for me. I bought the 29 weekly for 0.29 yesterday. This was beyond an incredible call by OA. Made my annual subscription to say the least, and much more. Thank you to Le Fly for convincing this guy to finally become part of IBC.
Filled for 3.20. Yess !!!!
I have some October calls in X up now 160%.. Still like the name but feel like I caught the bulk of the move. Hmmmmm?
Can’t believe no one has posted the Breakfast Scene this morning… http://www.youtube.com/watch?v=62YqHdTBwfg
My only regrets are I didn’t YOLO is… and that I didn’t buy more X calls yesterday… On X take the money and run or see if it starts shooting up through that volume pocket…
just sold some of my $X Aug1 30’s that I got at $.12 for $2.10 !!!
Thanks for the idea on this one OA!
$CRM looks ripe here. To nibble or not nibble before the Fed, that is the question.
Sold 10 X calls bot at .29 cents for 1835%
BOOM !!! Congratulations !!!
wow people, nice job with your thousand plus returns!
Bought X Aug 32s for .07, sold a couple at the open for .89. Letting the rest sit for now. Hoping it might pull through the volume pocket to $40 by expiration.
I got shares in YOD and WTSL just for fun
who had the biggest actual gains from x?
or ya’ll pussies just buying a few calls ??
I had over 2% position in them, but I had only $29 strike prices so I’m up like 450%… so I’m sure the 1800% by hesitation wins
Yep I had my poor 28s so i’m only up 210%.. Still a nice win.
Just woke up. Tripping on X this morning.
Okay congrats anyone who had X and or TWTR. What is everyone buying today? Seems like we are primed to make at least one more big win this week. Whatlllll it be next boys?
$SPLK ripping.
Got in that one this am.
$VMW into gap.
Congrats to everyone that had TWTR and X, epic call by OA.
This market is struggling however, I’m looking for shorts not longs now.
Is it the large caps that are struggling? Is this some of that money rotation of of the 1/2s and into the 3s that OA was talking about or is there something else we should be watching? I know you are an experienced trader, so I would like your opinion.
why do you think the market is struggling?
Firstly I believe the RUT has put in a double top, which will be confirmed on the monthly provided we don’t go insane to the upside tomorrow. Secondly we are stretched beyond belief on SPY and QQQ and the fact that we are not rallying hard after the TWTR earnings says something to me. In 2013 we would be up 200pts after that news. Also I don;t like the look of some ETF’s namely XHB IYT XLF. I’m still bullish long term but I think we are in for a decent pullback. It’s just my take and I may be wrong but I’m currently looking for shorts.(None yet)
Bullshit. The market isn’t going to rally 200 points ahead of a fed announcement based on TWTR.
The market would have had a much bigger move last year based on TWTR results.
Whats your take on the market?
I’ll be live in about an hour. I will tell all.
Bot weekly SINA 52s and Aug SPLK 52s