{"id":16394,"date":"2021-05-03T16:24:01","date_gmt":"2021-05-03T20:24:01","guid":{"rendered":"https:\/\/trades.iwopremium.com\/?p=16394"},"modified":"2021-05-03T16:24:01","modified_gmt":"2021-05-03T20:24:01","slug":"proactive-spreads-may-3rd-2021-fb-v-ups","status":"publish","type":"post","link":"https:\/\/trades.iwopremium.com\/proactive-spreads-may-3rd-2021-fb-v-ups\/","title":{"rendered":"Full Time Profits, May 3rd, 2021 – FB, V, UPS"},"content":{"rendered":"

\"\"<\/p>\n

Markets are still hanging on to current levels due to a mix of rotation underneath the surface. Large cap tech earnings are out the door and we’re seeing some fades there, but overall things look fine technically. I am seeing some signs of weakness and while I don’t expect some kind of big crash, I’m looking for just a “normal” pullback.<\/p>\n

If we were to see a pullback like we did back in February, then that would take the S&P back to 4000 and test the larger term structure. That downside target is very ambitious as there are a few key levels above that, and if buyers show up in FANG stocks (again) then we’ll find support before then.<\/p>\n

I want to look at planning pullbacks in two large cap stocks, and eyeing a fade in UPS.<\/p>\n

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

\"\"<\/p>\n

Monster breakout on earnings, but it’s being faded a bit. I want to see a test of the most recent swing high as the first potential support level.<\/p>\n

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

Expected Price: 316.02<\/p>\n

Sell to Open FB 21May21 295\/290 Put Spread<\/strong><\/p>\n

Tier 1: Enter at 1.05, Exit at 0.37<\/p>\n

Tier 2: Enter at 1.47, Exit at 0.76<\/p>\n

Tier 3: Enter at 1.89, Exit at 1.01<\/p>\n

Stop Out If Close Under 294.89<\/p>\n

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

\"\"<\/p>\n

V had some nasty news in March about a NY State investigation, but the dip was bought and the stock jammed to new highs. I’m now looking for a dip for a good entry.<\/p>\n

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

Expected Price: 225.79<\/p>\n

Sell to Open V 21May21 215\/210 Put Spread<\/strong><\/p>\n

Tier 1: Enter at 1, Exit at 0.32<\/p>\n

Tier 2: Enter at 1.4, Exit at 0.68<\/p>\n

Tier 3: Enter at 1.8, Exit at 0.9<\/p>\n

Stop Out If Close Under 214.89<\/p>\n

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

\"\"<\/p>\n

UPS is overbought by just about every metric I watch. Sure, earnings helps yet this last move feels a little bit like “panic buying” and I think we’re due for a fade here.<\/p>\n

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

Expected Price: 212.2<\/p>\n

Sell to Open UPS 21May21 220\/222.5 Call Spread<\/strong><\/p>\n

Tier 1: Enter at 0.42, Exit at 0.06<\/p>\n

Tier 2: Enter at 0.588, Exit at 0.19<\/p>\n

Tier 3: Enter at 0.756, Exit at 0.26<\/p>\n

Stop Out If Close Over 220.11<\/p>\n","protected":false},"excerpt":{"rendered":"

Markets are still hanging on to current levels due to a mix of rotation underneath the surface. Large cap tech earnings are out the door and we’re seeing some fades there, but overall things look fine technically. I am seeing some signs of weakness and while I don’t expect some kind of big crash, I’m […]<\/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\/16394"}],"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=16394"}],"version-history":[{"count":1,"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/posts\/16394\/revisions"}],"predecessor-version":[{"id":16399,"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/posts\/16394\/revisions\/16399"}],"wp:attachment":[{"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/media?parent=16394"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/categories?post=16394"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/tags?post=16394"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}