Crowdstrike Rules the World!

By Andrew Giovinazzi

July 22, 2024

Yo Pit Crazies,

You will get the best taste of the Option Pit crew via our livestream Monday to Wednesday. Ideas for investing, trades and some education and fun tossed in. Sadly you will miss the steak at Gibson’s Mark buys us but then there is always in person next year.

I had really no idea Crowdstrike Inc (Ticker: CRWD) was so dominant and connected to Microsoft Corp (Ticker: MSFT). It was on Frank’s list of stocks to watch for Cap Gains and we had a nice trade in it this year in the Ticker Highlight Show but when it comes to trades, I just trade momentum and volatility. If the company actually looks like it can be real, it becomes a stock in my retirement account.

That is my way. That is how my stocks will find their way into the OP portfolio but more on that this week.

CRWD 2 Year chart

The question is what to do with CRWD now?

What is happening to CRWD could happen to any one of the Great 8

CRWD lost most of the gains of 2024 and could chip into part of 2023. I just pick a price that would be decent to own some. I added a Broken Wing Put Butterfly as a short term trade idea in the Trading Desk with the goal to take the stock around $260, Yes that is $40 lower than where it is trading right now as I am not in a rush to own it after the 1st bit of bad news.

If the stock dips below $280 I will make some money but I will own 100 shares for $260 if it really falls but stopped at $250. I will then manage the shares from there in the trading account. I am willing to take some risk, just not a ton.

That is how I tiptoe into an interesting stock that might become an opportunity. That is something Mark and I will cover at the OP event this week.

I am thrilled to see some of my roomies there!

To Your Trading Success,