Updated: Jul 16, 2019
July 15, 2019 - Updated
BotTrigger Trade Alert: $TQQQ sold our January 2020 $30-strike calls here @ $39.55 locking in a 62% gain.
We have zero sell signal on the TQQQ & QQQ but we're selling this position here because there are other long setups we're stalking that have more upside potential. Anyone that wanted to stay long the TQQQ I see no issue with such a deep-in-the-money position. Either way, we will be repurchasing a similar d.i.m call option once we get the next relative pullback that occurs on the TQQQ. On watch we have CYBR breaking out of a 4-month long flat base pattern, along with TWTR which just completed the handle formation from giant 1-year long CUP & HANDLE pattern.
July 10, 2019 - Updated
BotTrigger Trade Alert: Sold our $SPY July $280 / $300 vertical call spread @ $17.85 for a 79% gain since our entry @ $9.98. With a max value of $20 on this call spread, there's just very little upside left in the tank on this spread.
With expiration nearing by the close of next week on July 19th, we've decided to close this out since there's only about another $2 of upside which would represent a full 100% gain if indeed we held this by expiration & the SPY managed to stay @ or above $300 upon expiration. So we're going to lock in that 79% gain in lieu of the possibility that this could close @ a 100% gain. The probability of the SPY being above $300 is high but not high enough at this point to risk the possibility of the SPY going through another pullback cycle.
May 30, 2019 - Updated
BotTrigger Trade Alert: $TQQQ bought the Jan 2020 $30 strike calls for a 3% allocation.
These are deep in the money calls with a present approximate delta of .90. The higher the detla on said call options, then the closer they trade to tracking the % movement of the asset's share price. Anything within a range of .9 to 1.0 (max delta value goes) is usually considered a stock replacement strategy. The $TQQQ is a leveraged ETF for the QQQ that will usually move anywhere from 2x to 3x more to price movement of the QQQ. The QQQ is right at the 200 day moving average as of today...along with the SPY. Yesterday we had an indecision doji candle bar & today we have a mild gap up now trading above that doji. Everyone is leaning bearish right now. This is almost always the area when the market will whipsaw late to the party shorts. We are starting with a small position here, with the intent to buy a more aggressive call option position if we do indeed get lower. The next strikes we'll be looking at are the Jan 2020 $50 strike calls. For now we're starting deep with the $30 strike call options.
May 10, 2019 - Updated
BotTrigger Trade Update: $SPY, $GH, $WIX: We were filled on our $SPY limit order to buy the July $280 / $300 call spread @ a net debit of $9.98 this morning and is now trading at a mid value of $10.50.
Regarding our $GH positions: Guardant Health reported beyond impressive numbers & is up about $13 on the day: Revenue surged 120% to $36.7 million. Gross margin expanded significantly to 63.1%. "The broad-based prosperity allowed management to significantly raise its full-year guidance. Revenue is now expected to land between $145 million and $150 million. This represents growth of about 63% at the midpoint and is a nice boost from the prior outlook of $130 million to $135 million. It is also much higher than the $134.7 million that Wall Street was expecting." https://finance.yahoo.com/news/why-guardant-health-soaring-today-152400170.html?.tsrc=rss $WIX continues to melt up to all time new highs. We will be adding more weighting into this position on the next relative pullback. For now we just let our current position work. Our $OKTA $IIPR & $CGC positions continue working higher. We may be putting on a new position today on ADBE. $V was sold perfectly a day before the pullback & is now in the reload zone. Our $NFLX position is officially in the Hail Marry zone...we got the trend right but the timing wrong. Regarding market over reactions, we're also watching $TTD & $INTC once we get further confirmation that they have cultivated a bottoming pattern. We will be covering $INTC & $TTD in a more detailed post on the Members blog for what we're looking for before getting long.
May 9, 2019 - Original Post
BotTrigger Trade Alert: $SPY we're placing a GTC (good till cancel) limit order to buy the July 19, 2019 $280 / $300 call spread @ $10.00.
In order to get filled on this we need another intraday volatility day that pulls back about $3 points. We may bounce a few days from here or that retest may happen as soon as tomorrow...either way I would expect a retest of today's lows to form either a higher low, equal low, or even a deeper low on higher RSI which would setup an environment of bullish divergence. If we get a deeper low with a bullish divergence setup then we will be initiating another long position on the SPY. Note: the blue location-icons on the chart are the Fed Minutes "FOMC" dates on the chart both past and scheduled for the remainder of the year. To give you a sense of what tends to happen on FOMC...you can see that 5 out of the last 8 lead to a pullback cycle that was eventually bought & a resumption of the uptrend continued. The trade shenanigans period will inevitably come to pass. Posturing blunts, punts, walks etc is part of the cycle but at the end of this I'm betting more on the side of history that consistently shows us "The Show Must Go On." This pullback cycle will only further reinforce the cultivation of HIGHER LOWS & HIGHER HIGHS on the primary term uptrend. May 1st already printed the first HIGHER HIGH this year. Now we want to see the CULTIVATION of the next HIGHER LOW. That higher low is what continues to inaugurate the resumption of the uptrend & continued bull market. There is no bull market without HIGHER LOWS.