Option Strategies: ULTA, WMT, TSM& STNE
Hello everyone! Today i want to share some option strategies with you!
1.
$StoneCo(STNE)$ releases earnings after the closing bell. Expected move is ~7%. Downside level at 12.5 and upside level at 14.5.
Already got a position in it with a covered call sold at the $14 strike and Aug 16 expiration. Sold the call at a 0.65 fill. Could get out now for profit on the call, but let's see how earnings goes.
2.
The saga continues on our $Taiwan Semiconductor Manufacturing(TSM)$ trade. Been rolling covered calls up from 165 in order to capture more upside for our long position. Currently sitting in an Aug 23 exp 177.5 strike call position.
TSM looks like its hitting resistance at that 172.5 level, which also happens to coincide with heavy volume resistance on the daily chart. Will be watching TSM tomorrow to see what the price action does. Might roll back the 177.5cc to Aug 16 exp 172.5cc or 170cc depending on price action.
On another note, there is a gap at the 183 handle. Would prefer the algos and tutes fill that gap and take us out at 177.5. We shall see. In the short-term, might be time to take profit and then sell a put to get back in at a lower price. Decisions decisions ... 🤔
3.
Took a pre-earnings optionselling trade on $Wal-Mart(WMT)$ ... sold puts at the 60 strike gap. Expected move is ~5%. Lower bound of range at 65 and upper bound at 72.
4.
WOW 😮 !!! Might have to sell puts and buy calls on $ulta beauty(ULTA)$ . That 240 handle with strong volume support looks tempting. Looking at the 240 put strike (or higher up to 320) & Sep 20 expiration or farther out.
Dub-B is betting on a reversal ... so will we!
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