Option Strategies: AMZN, .SPX& MKC
Hello everyone! Today I will share some option strategies with you! Hope it can be helpful to you!
Anyone taking an optionselling trade on $McCormick(MKC)$ to play for earnings before market open tomorrow? Expected move is pegged at ~5%, which puts the downside around 70. On the daily chart, MKC has touched and bounced from that 70 level twice before.
Similar to $Nike(NKE)$ , MKC has been in a terrible downslide. Analysts are expecting MKC to report sub-par earnings results. We saw what happened to NKE last week ... could this be another NKE and we get a big bounce if earnings results come in better than expected?
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Cool. First optionselling $S&P 500(.SPX)$ trade in the books. Oct 2 spreads expired worthless and we captured max profit. Going to continue trading SPX conservatively until we get more comfortable understanding how it moves, S/R levels, and risk mitigation tactics.
Opened up new trades on SPX ... sold the Oct 3 expiration ...
- 4195/4190 put spread
- 4345/4350 call spread
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Got $Amazon.com(AMZN)$ 124 puts expiring this Friday. Let's see if that strike acts as a magnet for price gravitation.
AMZN found buyers at that level on the dip last week and then bounced.
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