Option Strategies: ENPH, SQ, SOFI, TSLA, BABA, WDAY& SPY
Hello everyone! Today i want to share some option strategies with you!
1.
Remember, market is closed on Monday Dec. 25th. We're targeting these Dec 29 exp options to sell tomorrow since Monday is a holiday and its a shortened trading week.
- $Enphase Energy(ENPH)$ strike in 117-122 range - cash secured put - there is volume support around 123
- $Block(SQ)$ strike in 65-70 range - cash secured put - there is volume support around 65
- $SoFi Technologies Inc.(SOFI)$ 10 - covered call
- $Tesla Motors(TSLA)$ 280 - covered call
- $Alibaba(BABA)$ 84 - covered call
- $Workday(WDAY)$ 285/290 call credit spread
Note: Strikes selected may change based on how the market moves tomorrow. And be cognizant of tax-loss harvesting happening next week before year-end, which could send stocks down.
Image
Image
2.
Got a few covered calls sold on $SoFi Technologies Inc.(SOFI)$ $Tesla Motors(TSLA)$ before the drop in the market!
Also, sold a Dec 29 260/265 call credit spread on $FedEx(FDX)$ to help eat away at our loss from the earnings trade put credit spread failure.
Image
3.
Sold-to-open a call credit spread on $Workday(WDAY)$ - Dec 29 exp 285/290 strikes.
WDAY has been facing resistance in the 275-280 range and we don't see it breaking thru that next week.
Image
4.
Our optionsTrading plan for this week. There are no earnings plays, so instead ...
- Monday: trade Christmas gifts (white elephant)
- Tuesday: - Sell $Block(SQ)$ 70 strike naked puts, expiration date tbd - Gonna try and play $S&P 500(.SPX)$ again this week ... trade will depend on the set-up at open for the day
- Wednesday: - Sell Jan 26 exp 16.5 strike cash secured puts on $ProShares Bitcoin Strategy ETF(BITO)$ (the dividend on this ETF has been pathetic, and you can make more than the dividend by selling CSPs ... although you'll miss out on any potential upside in stock price by not owning shares straight up) - Sell $Hut 8 Mining Corp(HUT)$ Jan 5 exp 12 strike cash secured puts
- Thursday: - Sell Jan 5 265/270 call credit spread on $FedEx(FDX)$ if our Dec 29 260/265 call credit spread looks like it will expire worthless - Sell Jan 5 covered calls on $Tesla Motors(TSLA)$ $Manchester United PLC(MANU)$ $Alibaba(BABA)$ $FedEx(FDX)$ $SoFi Technologies Inc.(SOFI)$ if current positions look like it will expire worthless
- Friday: Traveling, so no trading this day. Haha.
Image
Follow me to learn more about analysis!!
https://twitter.com/Selling4Premium/status/1738995981029724570
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
