BY LICIA LESLIE
September 8, 2023
Hi Shopper,
Check out the large bullish candle created in Amazon (Ticker: AMZN) yesterday:
Also, look how it has held that 50-day moving average support.
It has bounced off of it five times now.
That makes for a great stop-loss level.
I think AMZN can trade back up to $143, which is the previous high.
Looking at the options:
Next week’s 139 calls under $1.55 aren’t too shabby.
Again, use a close below the 50 moving average as your stop-loss.
Trade Review
Holy cow Apple (TIcker: AAPL)!!!
The puts traded over $13.00 yesterday!
It would be near impossible to hang in there that long but what a great trade.
Thanks for reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
See what's hot at option pit
CAPITOL GAINS: SMR Aug16 7 call closed for a 150% gain
DELTA STRIKE: VLY Mar15 8 puts closed for a 88% gain
PFE May17 26 calls closed for a 66% win
OP MENTORING: SPY Mar22/19 510 put calendars and 520 calls for 6.4% gain
OPTION SHOPPER: ERX Mar28 65 calls closed for a 90% gain