Options Trade Ideas

• Weekly Trade Ideas

Disney ($迪士尼(DIS)$)

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

After gapping down due to missed earnings, this stock has been making lower lows. The downtrend might not be over, however, it has the potential for a short-term bounce.

If breakthrough 155.58, my targets are 157.09, 159.63, 161.62.

If fall beyond 152.94, my targets are 150.63, 149.30, 146.87.

Meta Platforms Inc. ($Meta Platforms(FB)$)

This has been lagging behind while other big tech companies are making new highs or close to ATH. For short-term trend this has been making higher lows, watch for a retest near 353, a breakthrough might see an uptrend and a rejection will take this stock back down to the range it has been trading for the past 2 months.

If breakthrough 353.65, my targets are 360.04, 364.72, 371.41.

If fall beyond 335.30, my targets are 330.18, 323.80.

GameStop Corporation ($游戏驿站(GME)$)

Can't stop, won't stop, GameStop... This OG meme stock is forming a nice pennant in the weekly chart which makes it hard to ignore, especially after a strong close last Friday. A potential breakthrough might bring the stock... To the moon?🚀

Since next week is a short week, I want to see strong momentum at the start of the week, otherwise not interested.

If breakthrough 231.44, my targets are 245.54, 266.89, 420.69.[DOGE] 

If fall beyond 201.69, my targets are 196.50, 190.20.

S&P 500 ETF TRUST ($标普500ETF(SPY)$)

In the weekly chart, it's following along nicely in an ascending channel. However, it's been getting rejected at the highs for the past 3 weeks while the price consolidates and trades in a tight range, which is quite concerning. My opinion is this might be the top of the year and we will see a correction soon. With that said, markets are never wrong, opinions often are. As traders, we just follow the trend and trade the price action.

Watch for a retest around 470-472 to see if the market will continue higher or strong sellers stepping in to reject the price. Weekly pivot at 467.99.

If breakthrough 470.94, my targets are 472.44, 476.44.

If fall beyond 465.89, my targets are 463.62, 462.04.

Square ($Square, Inc(SQ)$)

The weekly chart is currently closed near crucial support. Watch for a potential breakdown or if it bounces off nicely again this might be a setup for descending triangle.

Last week, we bounced off the support zone only to find the price closing at the support zone again end of the week.

If breakthrough 228.26, my targets are 232.75, 234.53.

If fall beyond 224.10, my targets are 222.92, 219.52.

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]