punitarani

punitarani Updated 

ROKU is oversold and down 25% from the highs. While it is definitely overvalued both in its sector and tech in general, considering the growth prospect, it seems justified. It has found support on the 322 level. There is overhead resistance and the 61.8% fib line at $380. If it reverses there and continues to fall further, we have the 127% fib level at $277...

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Cash-Secured Put : 23-strike expiring 4/16 for $0.48 Cr. 80% OTM and $550 BPE for a max 9% ROC.

punitarani Updated 

Short the 200 Put expiring 5/21 (60 DTE) for $1.15 Cr. It has a 95% POP and $2120 BPE for a 5% ROC. Considering that ZM is trading around $330 today, ZM will need to tank 40% to hit the breakeven for this trade. While this isn't a risk-free trade, it is a high-conviction and high-probability trade.

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Zillow took a massive dump over the last few weeks falling over 45% at its most and is currently still down 40% from its highs. It also completed all 5 legs of its downwards Elliot wave and is looking to reverse. Due to the increased volatility, its options premiums are pretty high right now too leading to our 2 main trade ideas. 1. Accumulate Shares around $125...

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Google has been hesitantly trading above the 141.4% fib level since the last earnings report to now. Unlike most of the tech stocks in the last month, Google hasn't seen any major down moves. While this is risky, considering the negative sentiment around techs and big money rotating from tech and growth to cyclicals and value, shorting google at this level can...

punitarani Updated 

Short the 25-strike put for $1.30 Credit. 75% POP and only $740 BPE for a decent 17.5% ROC. Short the 25-55 Strangle for $2.10 Credit. About a 1SD Strangle and has a similar $740 BPE for a 28% ROC.

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Docusign has been trading rangebound for over 6 months now. It is back at heavy support and had a small bounce up yesterday. While it is fine to add a long position at this support, the market pressure on the tech growth stocks is pointing to a break below this support level which might result in a $20-40 move down leading to a potential short position below this...

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Boeing is currently overbought and is looking to take a breather. BA is currently in a good area to take profits and using a trend-based fib retracement we can see our entry targets between $226 and $246 .

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AKAM is one of the few companies in its sector that is consistently profitable. It is trading 25% below its ATH and at a modest 29 P/E compared to its 5y Avg of 34 P/E. While its P/B is currently at 4 compared to its 5y Avg of 3.6, it is still at a discount for a solid company. Its earnings are expected to grow by 10% over the next year and considering it is...

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Chinese large caps have tumbled over the last couple of weeks and seem to have found support on the rising trendline around $47. The FXI also has a weighted PE ratio of 12.64 which is less than half the SPY's 27. In simple words, you are getting a greater value per dollar in FXI than the SPY. Trade Idea: Cash-Secured Put: 45 Strike expiring 4/16 for $0.65...

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SPX has made up all of its losses from the last pullback as it is back at its ATH again. SPX will most likely continue to make smaller moves to the upside for the next week. While I have a slightly bullish bias for the next week, its going to be a theta crush for option buyers. 1SD-2SD OTM Credit Spreads in both the call and put sides collecting at least a third...

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BABA is undeniably one of the least appreciated stocks in its sectors. Compared to its direct US competitors such as AMZN, which is trading at 73 P/E, BABA's 37 P/E is at a 50% discount. BABA, while subject to a lot more foreign scrutiny and anti-trust legislation than AMZN, is still very fundamentally strong if you look at their balance and income sheets. Their...

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EWZ is trading near its rising trendline support. Assuming that it could break below it, going with a neutral to bullish strat like a short put or a put credit spread would work to your favor even if the ETF breaks below, or trades flat. Trade Idea: Short Put: 28 Strike expiring 4/16 for $0.72 Credit. 72.5% Prob. OTM. and only $285 BP used for a max 25% ROC.

punitarani Updated 

Snapchat is down 25% from its highs, and while it has bounced up a little bit from the highs, it still remains oversold. Now might be the right time to sell a put into weakness and collect premium. Trade Idea: Medium Risk: The 44 Put expiring 4/16 for $1 credit . It has a 81.5% Prob. OTM and if you do get assigned, your cost-basis per share will be $43 and it...

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QCOM at 200 SMA support and will likely revert back up or trade flat. Trade Ideas Shares : Long around the 200 SMA ($125) for $140 and $152.5+ Profit Targets. Short Put : 110 strike expiring 4/16 for $1.3 Credit. Short 14.5 deltas with a 82.5% POP. $1000 BPE for a decent 13% ROC. Close at 50%-75% profit, 150%-200% Loss or 20 DTE, whichever comes first. ...

punitarani Updated 

Short Put : 18-strike expiring 4/16 for $0.69. Short 16 delta and has a 75% POP. It is also very cheap at $400 BPE for a solid 17.5% ROC. This is a neutral to bullish play with a modest room to the downside and still profit from the trade. This will give you the highest possibility to win and the best part is that you don't need to predict the direction as long...

punitarani Updated 

Extremely oversold. While its fundamentals might still point that it is overvalued, its technicals are looking strong for either a strong move back up as shorts take profits and people buy back in now that it is at a key support level and has shown resistance towards a further down move. High Probability, but risky due to its high volatility. Trade Ideas: ...

punitarani Updated 

The Biotech is oversold and is looking to revert back to mean. It is currently at its 180 SMA and ended Friday green forming a hammer candle pointing to an upwards move. Trade Ideas: Shares long between 136-140 to 145, 150, 160+ price targets. Bullish. Short Put at 115 expiring 4/16 for $1.15 Credit. $1150 BPE is a little pricy, but still a decent max...