Options Trade Ideas

Swing Trade Ideas

• Taiwan Semiconductor Manufacturing Company Ltd. ($台积电(TSM)$)

Strong bounce each time it hits the support zone 107.05-109.34. Currently very near the support zone.

If breakthrough 112.80, my target zone is 116.19-118.13. Possible to enter a small position at the current level as the risk/reward ratio is relatively good.

If fall beyond 107.05, my target is 104, which is the next support level.

I will take at least 1 month's expiry.

• DraftKings ($DraftKings Inc.(DKNG)$)

DKNG is a little tricky. Currently, range-bound but might see a relatively big move once it breakouts from this range. 

I'm looking at 53 calls if it holds around 47.70 level, with a tight stop-loss at a daily close below 47.

Looking at 48 puts if it can't hold above 52.78 level, with a tight stop-loss at a daily close above 53.52.

If breakthrough 53.52, my targets are 56, 59.80.

If fall beyond 47, my target zone is 44.15-45.44.

I will take at least 1 month's expiry.

Day Trade Ideas

• Advanced Micro Devices($AMD(AMD)$)

Many eyes are on this stock waiting for it to breakthrough 108 level. For day trade, we can look at smaller targets.

If breakthrough 106.80, my target zone is 108.50-109.28.

If fall beyond 104.46, my targets are 103.69, 101.83.

• Chewy($Chewy, Inc.(CHWY)$)

CHWY was not able to bounce at crucial support and closed into weakness last Friday.

If fall beyond 62.35, my target zone is 60.27-61.38.

If breakthrough 64.60, my target zone is 65.65-66.76.

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. [胜利] 

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)