Option Strategies: NVDA, MU& AMD
Hello everyone! Today i want to share some option strategies with you!
1.
$Advanced Micro Devices(AMD)$ broke out on Friday. Many chartists are signaling for a bullish move heading into earnings. Might be a play to sell puts and buy calls. Lots of consolidation and volume support in the 157.5-167.5 range.
Our 👀 are on the following:
▫️ Sell the 157.5 or 160 strike put, July expiration date
▫️ Buy the Aug 16 exp 160 strike call
2.
Gonna take another optionselling trade on $Micron Technology(MU)$ this week. July 12 expiration Strangle. Targeting the 144 call strike as that was the pre-earnings top before the post-earnings dump. Targeting the 125 put strike as that had been a solid multi-touch support level (and also happens to sit at the bottom bollinger band).
3.
$NVIDIA Corp(NVDA)$ has essentially been trading flat. Had a nice breakout on Wednesday but no continuation on Friday. 140 was the short-term top and 118 looks to be a solid short-term support level. Volume point-of-control sits just above at 120.
Looking at optionselling a strangle - July 12 exp 118p & 140c.
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