Trade Setups Updated
Hi all, here are some updated trade setups I'm looking at. Lets start off with some shorts since I have been clear about general market direction being tilted to upside but these are the short focus.
LVS - Nothing but bearish flow for the last two days on the options side. I think this can continue to break lower below the 30 handle.
ARCC is a very boring name, but I saw a big trade today for around ~500k worth of put premium that was purchased and it lines up with my technicals here for a pullback to 20.
EBAY - Two big trades this morning. Someone came in and bought 60 calls for the July and November expiry. I find this trade interesting because the stock is sitting at a support zone.
Here is the chart, sitting right at anchored VWAP lows and trend level support. I'm not doing much here but if it can hold the 54 area over the coming days, this looks like a great setup for a trade back into the high 60's
AMC is coming back to the 50-day moving average. I've been pretty bearish on these meme names but they seem a little bit extended on the short side at the moment.
If you want a discount on some of the tools I'm using like Unusualwhales or TrendSpider, feel free to reply or DM me!