Option Strategies: NET, ADBE& NET
Hello everyone！Today i want to share some option strategeies with you!
1.
$Broadcom(AVGO)$ has earnings this week. Its trading in the same area it was before last earnings. Took a dump for that earnings release. Will it take a dump again?
We do not know, but we are going to target the levels from last earnings for an #Optionselling put trade. Just gotta decide if we want to be conservative vs aggressive or somewhere in between.
Expected Move: ~6%
Expected Range: 1320 - 1495
Aggressive: 1320
Volume Point-of-Control: 1250
Conservative: 1200
Note: Strikes subject to change based on AVGO's price on Wednesday before market close.
2.
$Adobe(ADBE)$ has earnings this week. Not sure how we want to play it yet, but we will be 👀 it. The stock has been beaten up on the daily chart.
▫️ Expected move = 7%
▫️ Expected range = 430 to 500
▫️ Volume point-of-control around 480
▫️ Next decent volume support level around 370
▫️ Gap filled at 440
Will revisit on Thursday as expected move and levels might change.
3.
Looking at optionselling $Cloudflare, Inc.(NET)$ June 28 exp 66 strike puts. Might even be a set-up to buy calls on as well. Price action came down very close to strong volume support and point-of-control around 64. Now looks to be bouncing.
Got FOMC and CPI this Wednesday, so might be worth waiting to see how that goes before taking a trade.
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