AMD - My plans in preparation for earnings and based on current price action
Background
- In a possible wave 3 of correction (could be 3 or 5 wave)
- Since MA5 crossed below MA20, MA5 has provided support last days and looks to re-test MA20 coming week (possibly from a good earnings or expectation)
- Good structural support at 85, 78, 75
- Earnings is on Tuesday afterhours
- 1hr charts showing buy channel forming
- In a possible wave 3 of correction (could be 3 or 5 wave)
- Since MA5 crossed below MA20, MA5 has provided support last days and looks to re-test MA20 coming week (possibly from a good earnings or expectation)
- Good structural support at 85, 78, 75
- Earnings is on Tuesday afterhours
- 1hr charts showing buy channel forming
My plays
- Hold on to my current sold puts (strike 70/75) through earnings (IV Crush post earnings play)
- If Monday/Tuesday has a push up to test MA20 and break, sell calls as upper strangle hedge
- Any dips prior to earnings will go sold puts strikes 70/78/85
- Hold on to my current sold puts (strike 70/75) through earnings (IV Crush post earnings play)
- If Monday/Tuesday has a push up to test MA20 and break, sell calls as upper strangle hedge
- Any dips prior to earnings will go sold puts strikes 70/78/85
Wish myself luck going through Tuesday!
Good luck, all!
note : only go on options of counters you are willing to own
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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icezzz : What’s your trading plan before fomc? Qqq still look bullish
AsphenOP icezzz: bearish upcoming...
icezzz AsphenOP: Thanks .. I keep my sqqq
AsphenOP icezzz: oh...sqqq... u bearish
icezzz AsphenOP: Ya ,bearish ..but now wonder will there be another rally if fomc rate hike 25bps or all these actually factor in already
AsphenOP icezzz: always possible
小刘 icezzz: I also have some QQQ, do you own a lot