{"id":12555,"date":"2019-05-02T21:47:45","date_gmt":"2019-05-03T01:47:45","guid":{"rendered":"https:\/\/trades.iwopremium.com\/?p=12555"},"modified":"2019-05-02T21:47:45","modified_gmt":"2019-05-03T01:47:45","slug":"proactive-spreads-may-2nd-2019-xom-intc-nke","status":"publish","type":"post","link":"https:\/\/trades.iwopremium.com\/proactive-spreads-may-2nd-2019-xom-intc-nke\/","title":{"rendered":"Full Time Profits, May 2nd, 2019 – XOM, INTC, NKE"},"content":{"rendered":"

\"\"<\/p>\n

On Wednesday, the market gapped higher on the back of good AAPL earnings and the anticipation of Fed “voodoo.” After the Fed announcement, the market took out yesterday’s lows.<\/p>\n

This is a textbook “bearish engulfing” candlestick pattern.<\/p>\n

I’m not sure this is going to end up being a massive double top, but let’s put a “normal” pullback in perspective.<\/p>\n

A 3% pull off all time highs– just 3%! — puts the market at 2865. That would be a very similar pullbck that the market saw at the beginning of march.<\/p>\n

There’s also an open gap at 2834 which looks very fillable. As we head into the back end of earnings season, we will be hard-pressed to find catalysts that will drag the market higher. We may (gasp!) start to see more two-way action. I’m biased, because that’s what I’d like to see.<\/p>\n

Trade #1: XOM<\/h2>\n

\"\"<\/p>\n

I’m looking for a retracement to the previous earnings highs, which should act as support all the way down to 73.<\/p>\n

Trade Setup<\/strong><\/p>\n

Target Price: 75.50<\/p>\n

Sell to Open XOM Jun 72.50\/70 Put Spread<\/strong><\/p>\n

Tier 1: Enter at 0.50, Exit at 0.10<\/p>\n

Tier 2: Enter at 0.70, Exit at 0.30<\/p>\n

Tier 3: Enter at 0.90, Exit at 0.50<\/p>\n

Trade #2: INTC<\/h2>\n

\"\"<\/p>\n

INTC is into day 5 of a post-earnings trainwreck, and it’s back into the 50 pivot level that was previous resistance through the second half of 2018. I like playing the dip here.<\/p>\n

Trade Setup<\/strong><\/p>\n

Expected Price: 50.55<\/p>\n

Sell to Open INTC Jun 47\/44 Put Spread<\/strong><\/p>\n

Tier 1: Enter at 0.40, Exit at 0.10<\/p>\n

Tier 2: Enter at 0.60, Exit at 0.30<\/p>\n

Tier 3: Enter at 0.80, Exit at 0.50<\/p>\n

 <\/p>\n

Trade #3: NKE<\/h2>\n

\"\"<\/p>\n

If NKE tests the support levels from March, I want to be involved. This would be a stretch.<\/p>\n

Trade Setup<\/strong><\/p>\n

Expected Price: 82.50<\/p>\n

Sell to Open NKE Jun 77.50\/75 Put Spread<\/strong><\/p>\n

Tier 1: Enter at 0.40, Exit at 0.10<\/p>\n

Tier 2: Enter at 0.65, Exit at 0.35<\/p>\n

Tier 3: Enter at 0.90, Exit at 0.60<\/p>\n","protected":false},"excerpt":{"rendered":"

On Wednesday, the market gapped higher on the back of good AAPL earnings and the anticipation of Fed “voodoo.” After the Fed announcement, the market took out yesterday’s lows. This is a textbook “bearish engulfing” candlestick pattern. I’m not sure this is going to end up being a massive double top, but let’s put a […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":""},"categories":[24],"tags":[],"_links":{"self":[{"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/posts\/12555"}],"collection":[{"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/comments?post=12555"}],"version-history":[{"count":1,"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/posts\/12555\/revisions"}],"predecessor-version":[{"id":12561,"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/posts\/12555\/revisions\/12561"}],"wp:attachment":[{"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/media?parent=12555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/categories?post=12555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/tags?post=12555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}