My AMD options play for earnings week!
Situation as of 30 July 2023
- Price action is around 3 MA lines - MA5/MA20/MA50 ==> very easy for bulls or bears to push through taking 3 MA lines at one go!
- 108/109 has been a constant support past weeks! ==> Break below would mean quite some liquidity to push the sell down
- Options statistics show a variation of 7% to 8% range play this week ==> Interestingly, it coincides with levels of 105 and 100!!
- Bull flag fib retracement shows we are hovering around Fib 38.2 ==> can still be bullish if there is a push
My approach/plays
- Positive reaction from earnings ==> Sold puts will be safe so not much concern there. Existing sold puts will be good.
- Negative reaction from earnings ==> Options statistics play means gap down to 105 and 100 and given the liquidity overhead, likely to continue sell down to 95. ==> My aim is to own some AMD, so I will be going heavy into sold puts strike 95 and 100
- Post earnings will have IV crush (helps sold options)
Good luck!
AMD Daily Chart - 30 July 2023
@Deposit @TigerStars @CaptainTiger @macroB @melson @LMSunshine
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AMD will continue to gain in DC and soon the shoe will be on the other foot. AMD guidance will be good and if its AI solutions take off revenue gains will be parabolic.
Look at the AMD one year chart and fear not! AMD is obviously a winner 🏆 GLTA👍👊
Almost $2 STRAIGHT Down This is the AMD I know
MM does not want AMD above $114.
Watch AMD get TRASHED good days and bad. This is a real pig to own
Look at that sombich tank. AMD Leads the Market ....LOWER
Less and Less until it becomes NOTHING. That's the AMD way
AMD is like Rat Poison for your Portfolio
It's pretty much automatic now for AMD to Tank
AMD bulls are used to geting stiffed