Market Notes for 4/19-4/23
Market is on parabolic steroids and to many it might not make much sense and you get the itchy fingers to short it because “this can't possibly keep going up,” please do not because it gets very painful trying to short something like this. If you want to short wait for the signal, you don't have to have the very top to make money.
Indexes
$SPY - Chart is looking a little crazy here with parabolic rise, 417.85 as resistance so above that we keep chugging probably to 420+, below 415.8 needs to hold for this parabolic to continue.
Interesting Options activity last week: 6/18 397P $5M @ 5.05
$QQQ -Holding 340 important for this week, below it we see weakness with that gap fill in play.
Interesting Options activity last week: 6/18 308P $1.9M @3.58.
Stocks
$AAPL- Simple setup here, above 134.6 should see upper zone 136.5-137.5 which will be major resistance, if we break below 134.4 this is heading to 130 area again.
Interesting Options activity last week: 4/23 130C $917k @4.65
$ABNB- We chopped last week but overall i am still bullish on it, have an alert set on 181.5 which should cause it to go nuts.
Interesting Options activity last week: 4/23 177.5C $85K @ 4.34
$AMD - Going to run into a big resistance area here see reaction but above 84.76 we should be able to run higher. One could also short this heavy supply area.
Interesting Options activity last week: 4/30 82C $190K @ 3.35
$AMZN- Weekly showing break out of DTL, Plan this week, aggressive long over 3407/ Safe long over 3435.
Interesting Options activity last week: 4/30 4000C $89K @4.13
$BA- Not really worth trading ATM, just wait for 260 breakout.
Interesting Options activity last week: 4/23 255C $50K @2.96
$BABA- Take long at gap support targeting 245 with stop below 236.6, should be good R/R.
Interesting Options activity last week: 4/30 240C $99K @4.90
$BIDU- Still below Head and Shoulder breakdown here, needs above 234 for long.
Interesting Options activity last week: 4/16 230C $240K @2.70
$BYND- On watch this week with a Cup and handle, have alert at 140.5 as breakout level.
Interesting Options activity last week: 4/23 140C $30K @1.00
$COST- Looking great to test that 380 level this week, can buy the 366 pullback.
Interesting Options activity last week: 1/21 390C $365K @18.25
$CRWD- getting tight with 3 inside days following the big move, i have alert at 219 for breakout targeting 227.
Interesting Options activity last week: 1/21 250C $427K @21.60
$DASH- Back to back big green candles with volume increasing, bullish on this and likely see 160+ this soon.
Interesting Options activity last week: 8/20 190C $135K @9.05
$DKNG- Bearish setup here below trendline, think we test the demand area.
Interesting Options activity last week: 5/21 65C $36K @1.78
$DOCU- Big move last week so might need a consolidation week, above last weeks high can see 246.
Interesting Options activity last week: 4/23 220C $64K @3.20
$ETSY- Disappointing move last week but still bullish on this, move above 222 triggers long.
Interesting Options activity last week: 5/7 225P 340K @ 13.50
$FB- Broke down of bull flag but printed a inside week, should continue to be bullish as we hold 304.
Interesting Options activity last week: 4/23 320C 540K @ 1.20
$IQ- Still in demand zone, interest week with netflix earnings, good earnings will cause this name to pop.
Interesting Options activity last week: 4/23 15.5C $240K @0.55.
$JD - Coming into a big area of demand, expect to see this get some bounce action this week.
Interesting Options activity last week: 5/21 82.5C $311K @1.55.
$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: 4/23 62C $73K @1.29.
$NET - Good looking chart, breaking out on heavy volume now consolidating on lower, expect to see this move higher this week.
Interesting Options activity last week: 4/23 80C $110K @ 2.00
$NFLX - Earnings this week so not going to touch.
Interesting Options activity last week: 5/28 5900C $329K @10.43.
$NIO - Keep buying the 34-35 demand zone, Over 37 will confirm bullish move coming.
Interesting Options activity last week: 4/23 40C $75K @ 0.30
$NKE - 131-132 level is BTFD zone has not failed, fundamentals are good for this name so just keep buying.
Interesting Options activity last week: 4/23 135C $104K @2.09
$PTON- Bad news out this weekend, should cause this to gap down, see if demand zone holds.
Interesting Options activity last week: 5/21 100P $300K @3.50
$ROKU - Consolidated last week, 363 still strong support to buy, 380 turn into resistance.
Interesting Options activity last week: 4/23 380C $407k @ 9.60.
$SHOP- Still bullish with this holding above this demand zone now 1250/1350 big resistance above.
Interesting Options activity last week: None.
$SNAP- Waiting for this to hit my demand zone to be interested.
Interesting Options activity last week: 4/23 65C $445K @2.54
$TSLA - Above 718 should still be bullish, breakdown of 700 will turn bearish.
Interesting Options activity last week: 4/30 480P $250K @ 2.70
$UBER - Consolidating above breakout, needs to stay above 61 to move to ATH.
Interesting Options activity last week: 4/23 63C $231K @0.50