Option Strategies: AMD, NBIS, .SPX& QQQ
Hello everyone! Today i want to share some trading strategies with you!
1
Trade Ideas
Bullish: Nov 11 665C
Trigger: 661 ✅
Bearish: Nov 11 650P
Trigger: 653 ✅
QQQ has dropped 15% from the all time highs.
It dropped 6.5% last Thursday alone.
Usually when we see this type of price action like last Thursday, a bottom will start to form over the next week.
Let’s see if QQQ backtests 637 then moves higher.
If QQQ can reclaim 661 and hold this level for 3-4 trading days we should see a move higher to 700 this month.
QQQ 630-637 range should be the bottom if we see one more dip this week.
2
$S&P 500(.SPX)$ Trade Ideas
Bullish: Nov 11 7500C
Trigger: 7450 ✅
Targets: 7500, 7550 🎯
Stop: 7400 🛑
Bearish: Nov 11 7300P
Trigger: 7385 ✅
Target: 7300 🎯
Stop: 7425 🛑
SPX had a massive drop this past week from 7715 to 7350.
If SPX fails to hold 7300 it can drop to 7238 next.
SPX under 7238 we can see panic selling down to 7100 then 7000.
We need to see SPX back near 7500 to start a rally higher.
Early this week let’s see if SPX can pop back above 7450 and hold this level.
I’d be more cautious the next 2-3 trading days.
3
Trade Idea: Nov 13 140C
Trigger: 133 ✅
Targets: 140, 145 🎯
Stop: 125 🛑
Dropped from 299 to 113 since June 22nd.
It’s dropped 62% from the all time highs.
If NBIS can form a bottom above 111 we ca see 145 this week.
NBIS above 145 can run to 169.
Let’s see if NBIS can bottom over the next 3 trading days.
4
Trade Idea: Nov 13 450C
Trigger: 431 ✅
Target: 450 🎯
Stop: 420 🛑
AMD has dropped from 658 to 402 since October 6th.
It’s dropped 38% in a month.
AMD started to show some signs of a bottom after moving from 402 to 459 last week.
IF AMD can backtested near 431 and hold this level I’d go long in this range for a push back to 500 this month.
If AMD fails at 400 it can drop to 363 next.
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