Background
- In a possible wave 3 of correction (could be 3 or 5 wave)
- Since MA5 crossed below MA20, MA5 has provided support last days and looks to re-test MA20 coming week (possibly from a good earnings or expectation)
- Good structural support at 85, 78, 75
- Earnings is on Tuesday afterhours
- 1hr charts showing buy channel forming
My plays
- Hold on to my current sold puts (strike 70/75) through earnings (IV Crush post earnings play)
- If Monday/Tuesday has a push up to test MA20 and break, sell calls as upper strangle hedge
- Any dips prior to earnings will go sold puts strikes 70/78/85
Wish myself luck going through Tuesday!
Good luck, all!
icezzz : What’s your trading plan before fomc? Qqq still look bullish
Asphen OP icezzz : bearish upcoming...
icezzz Asphen OP : Thanks .. I keep my sqqq
Asphen OP icezzz : oh...sqqq... u bearish
icezzz Asphen OP : Ya ,bearish ..but now wonder will there be another rally if fomc rate hike 25bps or all these actually factor in already
Asphen OP icezzz : always possible
小刘 icezzz : I also have some QQQ, do you have a lot