Options Trade Ideas

• Swing Trade Idea

DraftKings ($DraftKings Inc.(DKNG)$)

Interesting Wyckoff distribution playing out on the weekly chart. No clear signs of a bottom yet so I would like to swing trade and give this more time instead of day trade.

We need to see this holding above 28.26 and stop making new lower lows. My plan is to buy calls at least 2-3 months expiry with the target at 41.66. Not interested or will cut at a loss if the price goes for new lower lows.

• Weekly Trade Ideas

FedEx ($联邦快递(FDX)$)

With the market becoming more volatile, I'm looking at other sectors besides the big tech stocks that I mainly trade. This caught my attention as the previous resistance turned into support and bounced rather strongly. Currently, it is trading near the previous breakout level. Watch for a potential rejection or a successful breakout above.

If breakthrough 241.62, my targets are 243.48, 244.79.

If fall beyond 238.13, my targets are 235.80, 233.97, 231.97.

Nio ($蔚来(NIO)$)

The weekly chart is currently closed near crucial support. Watch for a potential bounce or breakdown below.

Need to see a bounce off this level to remain bullish. Otherwise, this might trade much lower.

If breakthrough 34, my targets are 35.20, 36.92.

If fall beyond 30.70, my target zone is 27-28.

XPeng ($小鹏汽车(XPEV)$)

A big rejection caused this to close below recent weeks' price range. Right now, it's looking rather bearish with this weekly bearish engulfing candle.

We can watch for continuation to the downside or a retest at the previous range.

If breakthrough 45.07, my targets are 46.47, 47.88.

If fall beyond 42.48, my targets are 39.53, 35.27.

Set stop-loss according to your risk appetite if you like my ideas and choose to take the triggers. Take profits early if low volume or the price action does not look good.

Disclaimer: The levels given are my own opinions and not investment advice. If you choose to follow the trade, do note that you are responsible for your own money. Prioritise your own risk management, expel emotions & focus on your trading plan.[暗中观察] 

Intraday trade strategy/guide:

1. Introduction to J.O.I.T (1)
2. Three Major Types of J.O.I.T(2)

Have an idea to share? Feel free to comment below.[你懂的]