Market Notes for 4/12-4/16
Just going through the charts, big tech like AMZN, GOOGL and AAPL are all short term overbought and could use a week of chop/downside action to reset while some growth names are looking ready to launch. Banks earnings will start to come in Wednesday morning so keep that in mind.
Indexes
$SPY - We are our first buy zone developing at 405.5-406.7, top side resistance at 414.3. Play the levels and see how we shake out this week.
Interesting Options activity last week: 4/26 395P $2M @ 1.58
$QQQ -330 is an important pivot that needs to hold on a pullback or else tech will start to get soft again, 335 important level to hold for continued strength this week.
Interesting Options activity last week: 4/16 332P $1M @2.95.
Stocks
$AAPL- Short term overbought so could see pullback here at 133-134 area. 130 area is a buyable dip with the 127 area is definite dip buy.
Interesting Options activity last week: 4/16 130C $450k @ 1.75
$ABNB- TOP name to watch this week, at big support confluence so high chance we bounce.
Interesting Options activity last week: 5/21 160P $130K @ 5.50
$AMD - Going to run into a big resistance area here, good r/r short here at the 85 level.
Interesting Options activity last week: 1/21 80C $540K @ 13.60
$AMZN- About to hit a heavy resistance area, expect it to pull back to 3245ish area which can be taken long.
Interesting Options activity last week: 4/16 3350C $520K @29.50
$BA- Holding this 248-251 demand zone, can take long off this zone with a stop below 248.
Interesting Options activity last week: 4/16 250C $123K @5.75
$BABA- News out after close Friday that China is hitting Alibaba with $2.8B fine, should lead to a gap down which is a nice spot to take a long IMO.
Interesting Options activity last week: 4/30 240C $205K @2.26
$BIDU- retesting Head and Shoulder breakdown here last week and seeing rejection, might get hit because of Baba, needs above 234 for long.
Interesting Options activity last week: 4/16 230C $240K @2.70
$COST- Set alert at 366 that is monster rippy level.
Interesting Options activity last week: 1/21 390C $485K @18.00
$CRWD- Alert at 204, breakout above it.
Interesting Options activity last week: 4/16 205C $100K @4.94
$DASH- Looks like decent buying coming in on friday, if this somehow gets above 150 level it might take a big leg up.
Interesting Options activity last week: 4/16 143C $50K @1.75
$DKNG- Bounced off trendline last week, watch the $64 area for a move higher.
Interesting Options activity last week: 5/7 65C $500K @2.48
$DOCU- Hard not to like this chart, can easily see 222+ this week if market doesn't crash.
Interesting Options activity last week: 4/23 220C $64K @3.20
$ETSY- Breaking out above triangle, first target 230.
Interesting Options activity last week: 4/16 210C 340K @ 13.50
$FB- Still very bullish, breaking out of multi month consolidation, pullback to 304-305 area should be a good dip buy.
Interesting Options activity last week: 4/16 320C 120K @ 2.90
$GOOGL - Big move last week now overbought on all time frames, will expect pullback/chop on this.
Interesting Options activity last week: None
$IQ- expect the Demand zone to keep holding so good R/R long off of it.
Interesting Options activity last week: 4/16 18C $1M @1.12.
$LVS - Closed weekly in the demand zone at 60-62, can take a long here, there has been massive bullish flow on this name for the past few weeks.
Interesting Options activity last week: 4/16 62C $144K @1.00.
$NET - Breakout above $75 level, watch it this week.
Interesting Options activity last week: 4/16 72C $110K @ 1.18
$NFLX - Earnings around the corner, needs above 557 to really move.
Interesting Options activity last week: 5/16 570C $100K @4.80.
$NIO - Keep buying the 34-35 demand zone.
Interesting Options activity last week: 1/21 42C $420K @ 7.80
$NKE - 131-132 level is BTFD zone, hope you were listening. Might see a big move on this soon.
Interesting Options activity last week: 4/23 135C $104K @2.09
$PTON- buy the zone and get paid, watch the 119 level, this can move big.
Interesting Options activity last week: 4/16 125C $30K @1.88
$ROKU - For this week, 363 seems like a good support to buy some calls on this, will be going into an important supply zone 380-387.
Interesting Options activity last week: 4/16 400C $65k @ 3.29.
$SHOP- As highlighted last week, big breakout is happening in SHOP, watch it move to 1250/1350 this week.
Interesting Options activity last week: 4/16 1300C $150K @8.50
$SNAP- falling wedge breakout hitting big supply, a pullback to 58 is buyable here.
Interesting Options activity last week: 4/16 65C $30K @1.33
$TSLA - Breakout and retest, still tough supply above to chew through, set alert at 718.
Interesting Options activity last week: 4/16 760C $113K @ 1.37
$TWLO - Keep buying the retest.
Interesting Options activity last week: NONE.