Looking at recent trend analysis, where I connected the highs and lows off of recent moves and it appears the pivot where the trend switched is 33.77. I've not been able to ascertain a real bearish move yet because since the trend reversed, AMTD has consistently closed above the 8 day EMA every day the market has been open. Volume has been normal too. Although it appears the bulls and bears are certainly in a battle due to the recent daily dojis. With earnings coming into the mix afterhours tomorrow, I fully expect the trend to gap up if the earnings meet or exceed expectations and gap down if they don't. There won't be any mamby pamby wait and see what happens with this ticker. The price will react fast to earnings.
So...what do I have in play? Well, I'm long with 5 AMTD calls with 11/15 expiry. I bought these a couple of weeks ago right after the price bottomed out. The strike is $50 and I picked them up for $0.12 each. They are almost worth half that right at $0.05. Tomorrow will tell if earnings helps them or not. I also picked up a straddle with a strike of $36.50 and expiry of 10/25. I paid $2.10 for the straddle and it's currently worth $2.10 however I watched it jolt upward to $3.00 a few times on this past Friday. Maybe tomorrow, the options gods will deem this a worthy play and reward me and then again, maybe not. Only time will tell.
One thing is for sure. Tomorrow, like many others who are vested in AMTD, I will be glued to my device listening for the earnings report after hours. Good luck everyone!
So...what do I have in play? Well, I'm long with 5 AMTD calls with 11/15 expiry. I bought these a couple of weeks ago right after the price bottomed out. The strike is $50 and I picked them up for $0.12 each. They are almost worth half that right at $0.05. Tomorrow will tell if earnings helps them or not. I also picked up a straddle with a strike of $36.50 and expiry of 10/25. I paid $2.10 for the straddle and it's currently worth $2.10 however I watched it jolt upward to $3.00 a few times on this past Friday. Maybe tomorrow, the options gods will deem this a worthy play and reward me and then again, maybe not. Only time will tell.
One thing is for sure. Tomorrow, like many others who are vested in AMTD, I will be glued to my device listening for the earnings report after hours. Good luck everyone!