OA Buy: WDAY

I stepped in here with a June option, planning to risk most of this premium. If there is a bid for high beta from below, this is a good spot to manage.

Have a pleasant weekend. Great show out there this week guys.

OA

Update: This is pretty epic if you look hard enough…

Distinguished colleagues of the After Hours with Option Addict society, we will be starting our meeting immediately after market close. I have my last post-op appointment this afternoon that I had forgotten about, and will have to leave a little early.

To stick with the recent theme, let’s focus strictly on set-ups today, and a few day trade ideas for tomorrows weekly option expiry.

OA

As I mentioned in my post yesterday, I look a large position in SUNE shares, making this my second largest holding (12%) behind FSLR (15%).

Again, the short term price action and long term profile have come together in this ticker, proving a very thin runway for this stock to reach $35.

As we discussed in After Hours with Option Addict last night, I knew this stock would take off today, making yesterdays entry under $19.50 irresistible.

Here’s a look at the chart…

I’m trying hard not to be the degenerate gambler here, swinging cheap weekly options in front of these fast stock swings in a flat to down market, but I can’t help it. Easy money and easy to manage if you are in front of the screens all day, which I am.

The latest entries have been in SCTY and FB, and shares of CETV and GSAT.

I’m also considering investing in SUNE here, with a good sized position.

Got any weekly option ideas? My next pick might be BAC. What are you looking at?

OA

After having positioned large for this recent run up, I am not too wild on the idea of chasing too much stuff up. In fact, I have taken two new positions here in LNG (calls) and ARWR (stock). I have a few positions nearing price targets, such as FB, GS, P, and UA. However, I am looking for the remainder to extend their gains a little further this week, which include DECK, FSLR, JASO, SPWR, SUNE and WB.

My main objective today is to look for entry points in momentum stocks that have lagged. Or, to buy pullbacks in these types of stocks this week. Take YY as an example. Seeing that stock pull back after establishing a new swing high tells me that we’ll likely see that higher low in the context of the trend reversal patterns we discuss in After Hours with Option Addict.

These are the set-ups I will be looking for this week. Hopefully we can actively discuss a few later today for a Trade of the Week tomorrow or Wednesday.

OA

Been waiting for this week for several months, and the waiting paid off.

This morning I picked up UA and SPWR calls while our positions from earlier in the week are melting up.

Feels like a market of stocks again, gang.

More later,

OA