While the S&P is putting int he most orderly pullback in recent memory, there is a bloodbath in tech.
Fine. Good. Markets needed a pullback and we’ve been looking for it, so now we get our list ready and start looking for the best opportunities.
Trade #1: V
This is a 3 standard deviation LL pattern. The stock saw a 3 standard deviation move lower yesterday, and now we want to see a lower low into the previous range.
Expected Price: 141.60
Sell to Open V Oct 135/130 Put Spread
Tier 1: Enter at 0.66, Exit at 0.16
Tier 2: Enter at 0.96, Exit at 0.46
Tier 3: Enter at 1.26, Exit at 0.76
Trade #2: NVDA
Looking for a pullback to breakout and a test of the rising 20 day moving average.
Expected Price: 266
Sell to Open NVDA Oct 240/235 Put Spread
Tier 1: Enter at 0.72, Exit at 0.22
Tier 2: Enter at 1.02, Exit at 0.52
Tier 3: Enter at 1.32, Exit at 0.82
Trade #3: AMZN
Similar setup as NVDA, looking for a test of the previous range and the rising 20 day moving average.
Expected Price: 1929.21
Bid/Ask Spread is very wide and pricing is bouncing around. Wait for the price to come in, then make sure these prices line up!
Sell To Open AMZN Oct 1755/1750 Put Spread
Tier 1: Enter at 0.90, Exit at 0.40
Tier 2: Enter at 1.20, Exit at 0.70
Tier 3: Enter at 1.50, Exit at 1.00
Trade #4: GOOGL
The stock has seen two days in a row below it’s lower Bollinger Band (not shown) and is due for a bounce.
Expected Price: 1174.15
Sell to Open GOOGL Oct 1080/1070 Put Spread
Tier 1: Enter at 1.45, Exit at 0.45
Tier 2: Enter at 2.05, Exit at 1.05
Tier 3: Enter at 2.65, Exit at 1.65