{"id":16732,"date":"2021-09-09T11:05:17","date_gmt":"2021-09-09T15:05:17","guid":{"rendered":"https:\/\/trades.iwopremium.com\/?p=16732"},"modified":"2021-09-09T11:05:17","modified_gmt":"2021-09-09T15:05:17","slug":"proactive-spreads-september-9th-2021-adsk-mdb-nvda","status":"publish","type":"post","link":"https:\/\/trades.iwopremium.com\/proactive-spreads-september-9th-2021-adsk-mdb-nvda\/","title":{"rendered":"Full Time Profits, September 9th, 2021 – ADSK, MDB, NVDA"},"content":{"rendered":"

\"\"<\/p>\n

Before we get into the setups, some quick housekeeping…<\/p>\n

Yesterday we had a live Full Time Profits On-Ramp class, and it was a technological dumpster fire. Everything broke on me! And while we did have some great questions, I know from the numbers that many of you didn’t have the opportunity to join live because, again, everything broke.<\/p>\n

My schedule is completely booked next week due to civic responsibilities (jury duty!), so we will have another On-Ramp class the Wednesday after that.<\/p>\n

On to the markets…<\/p>\n

Things look fine. That’s about as technical as we need to get right now. It’s still a grinding market, with some hot spots running, but still very rotational.<\/p>\n

My main concern is that the next liquidity break will be so well telegraphed that it overshoots as eager dip buyers get absolutely smoked. We have established a clear pattern whereby the market will drop hard right around monthly options expiration, only to have a massive bounce afterwards. These are due to the low liquidity in the market and higher trade volumes in the options market, to the point where the “tail wags the dog.”<\/p>\n

That’s not the most healthy market to have!<\/p>\n

So for today’s setups, we’re going to focus on planning for a deeper drop. Sure, that may cause no trades to happen, but I would rather be sitting on my hands than trying to sell put spreads on the first decent downtick.<\/p>\n

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

\"\"<\/p>\n

Absolutely monster move on earnings, and I think this has a sustainable range built into it. My bet here is that the earnings gap will not be fully filled due to the positive earnings drift. If it fills the gap, then I stop out with a smile on my face.<\/p>\n

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

Expected Price: 473<\/p>\n

Sell to Open MDB 19Nov21 400\/390 Put Spread<\/strong><\/p>\n

Tier 1: Enter at 1.75, Exit at 0.34<\/p>\n

Tier 2: Enter at 2.45, Exit at 0.94<\/p>\n

Tier 3: Enter at 3.15, Exit at 1.23<\/p>\n

Stop Out If Close Under 399.89<\/p>\n

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

\"\"<\/p>\n

One of the strongest movers in the market right now. I’m playing for a full retest of the breakout range.<\/p>\n

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

Expected Price: 201<\/p>\n

Sell to Open NVDA 15Oct21 180\/177.5 Put Spread<\/strong><\/p>\n

Tier 1: Enter at 0.37, Exit at 0.05<\/p>\n

Tier 2: Enter at 0.52, Exit at 0.11<\/p>\n

Tier 3: Enter at 0.67, Exit at 0.14<\/p>\n

Stop Out If Close Under 179.89<\/p>\n

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

\"\"<\/p>\n

Autodesk had a nasty earnings event, and can’t seem to find a bid. It’s holding support from the pivot level in July, yet I want to see one more big push down to 270 to play it.<\/p>\n

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

Expected Price: 269<\/p>\n

Sell to Open ADSK 15Oct21 250\/240 Put Spread<\/strong><\/p>\n

Tier 1: Enter at 1.5, Exit at 0.05<\/p>\n

Tier 2: Enter at 2.1, Exit at 0.52<\/p>\n

Tier 3: Enter at 2.7, Exit at 0.65<\/p>\n

Stop Out If Close Under 249.89<\/p>\n","protected":false},"excerpt":{"rendered":"

Before we get into the setups, some quick housekeeping… Yesterday we had a live Full Time Profits On-Ramp class, and it was a technological dumpster fire. Everything broke on me! And while we did have some great questions, I know from the numbers that many of you didn’t have the opportunity to join live because, […]<\/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\/16732"}],"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=16732"}],"version-history":[{"count":1,"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/posts\/16732\/revisions"}],"predecessor-version":[{"id":16737,"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/posts\/16732\/revisions\/16737"}],"wp:attachment":[{"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/media?parent=16732"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/categories?post=16732"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/tags?post=16732"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}