Trading Strategies: NVTS, CVX& ACI
Hello everyone! Today i want to share some trading stategies with you!
1.
$Navitas Semiconductor Corp(NVTS)$ with a very strong move today (and the past few days) after consolidating just above the 200EMA support level (6.8-7.2 range).
Thought about taking a trade on Friday last week after its breakout, but waited until Monday in case of any weekend shenanigans. Pulled the trigger yesterday.
Wrote a put credit spread - Feb 20 expiry, $7 put strike with the $5 hedge. Will capture $2700 in premium if trade expires worthless.
Also bought shares to chase this pump. Volume looks strong. Hoping to see a move to fill the upside gap at 12. 🤞🏽
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2.
$Chevron(CVX)$ Good job to those of you that didn't chase the headline-driven pump on $CVX yesterday. 👏🏽
That said, there might be a longer-term play here considering that institutional investors often rotate into the energy sector in Q1 as part of a seasonal pattern driven by both fundamental factors and annual investment cycles. And ... Chevron is the only major U.S. oil & gas company with significant, active infrastructure and a physical footprint in Venezuela.
Price action could continue downwards tomorrow. We shall see. Limped into cash-secured puts on today's drop and will add to optionselling position depending on how price action shakes out in the coming days.
Targeted the Jan 23 expiration (before earnings the following week) $155 put strike (at volume point-of-control).
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3.
$Albertsons Companies, Inc.(ACI)$ releases earnings before the opening bell on Wednesday. Expected move is ~5%.
Am writing cash-secured puts to play earnings, Jan 16 expiration, 15.5 and 16 put strikes.
Albertsons' IPO was priced at $16. How the mighty have fallen (look at the daily chart)! This is a strong consumer staples brand providing one of the basic necessities that humans cannot go without.
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