Daily Plan 12.20.23
Hey guys-
Very good day in names shared by me like OXY, MARA, AAOI, DOCU, S, ENPH, TGT, RIVN , OPEN, BABA, VFC etc. Frankly really a very long list to name them all here.
TGT for instance is now up about 40% from the 100 dollar low level shared by me.
ENPH is now up almost 2X from my support levels within weeks.
SNAP is now about 3x from my bottom call.
Let us now talk about how much are the MARA 1/19 $10 CALLS? See below. Any guesses?
12 dollars. This shows that this blog is also quite good at calling OPTION levels based on order flow. Subscribe now to get more such CALL and PUT ideas.
This is why we need to be in the loop longer term and not unplug when we feel the things are not going our way.
Talking of things not going a certain way, another very slow day in the Emini market. Barely 1 million lots traded in the cash session today due to the holidays.
I do not expect this to change until about 2nd January. With the exception of the OPEX sessions on 28th and the 29th. I may not send out a daily plan every day between now and the 2nd as volume is really really low, unless I see something super exciting. Weekly plan could be posted a little late this week as well, but I will share some more educational ideas for subscribers.
Now as far as the emini market goes, I will reiterate what I said from the weekly plan- the bulls have the ball as long as that 4770 level holds. Any volatility I think will come upon a close and couple of daily close below 4770.
To be upfront, if I see another session like today’s, tomorrow and then Thursday, I may not bother about it as it is literarily watching paint dry. We could see some moves as we get closer to the 12/29 OPEX and I will share my thoughts closer to it based on price action.
Dependent on the session context, I may share some levels in the AM if volatility decides to show up for a change, in the chat room below.
Other than that, not seeing a lot of interesting set ups.
Talking of interesting, look at Carvana CVNA 0.00%↑
This is up 50% this week. 100% up in month!
To be fair, this stock has a very high short float.
But it also has a very high IV. So option premiums are through the roof.
At today’s close, near $60, if you wanna look at 1/19 MOPEX and $42 PUT, I think it is still priced reasonably around $1. Yes, the short squeeze can continue but I think at $1, in my personal view, the PUT is reasonably priced to find out if the squeeze can keep squeezing or not.
Remember the Wall Street analysts all have price target of about 35 on this stock and one third of the float is short on this stock. So this is not exactly a good combination for bears but due to the very heavy IV, a smaller move in the stock can amplify the OPEX prices like that of the $42 PUT.
~ Toc
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