Option Strategies: SOFI& CELH
Hello everyone! Today i want to share some option strategies with you!
1.
$Celsius Holdings, Inc.(CELH)$ has earnings coming up in a few weeks, which means we still got a few weeks to sell puts without a major catalyst happening.
Trade idea:
- sell a put in the 28-30.5 strike range, with 31 or 31.5 as the absolute upper bound (if we want assignment)
- target weekly expiration
Points to consider:
- gap at the 30.50 level
- 28 is the bottom and it looks like that will hold based on recent price action
- price action trading flat in the 31-35 range, with a strong volume cluster supporting this range
- not a lot of volume resistance up to 38 and then 40
- some well-known fintwit technical chartists are saying CELH is setting up for a move higher (maybe earnings will be the catalyst for that move ... we shall see)
2.
$SoFi Technologies Inc.(SOFI)$ has a gap at 9. Price action has settled down and our guess is that its gonna trade more-or-less flat (on a daily timeframe) heading into earnings ... and then either fill that gap at 9 on an earnings dump or take us to valhalla on an earnings pump!
That said, not much volume support from current level down to 9. Buying volume and MACD are also getting weaker.
Debating how we want to play this. We are leaning towards going long, but also cautious to see how price action plays out next week. Might layer into the trade and buy a few call options today (Nov expiration, $10-12 strikes) and then add to position if SOFI dips this week.
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