DailyPlay

Bullish – INTC $59.60 – Technology

Catch OptionsPlay’s Chief Strategist, Tony Zhang on CNBC, Options Action every Friday at 5:30 PM EST!

Market Outlook:
The S&P 500 (SPY) has continued to climb on trade war resolution news and central bank pumping liquidity into the markets. Notably, the VIX continues to decline, suggesting that traders aren’t too concerned about market pullbacks. Despite strong momentum and relative strength, we continue to see risks of a pullback towards $302.50.  

INTC Trade Idea:
On CNBC’s OptionsAction show on Friday, Tony Zhang, Chief Strategist of OptionsPlay suggested that Intel’s earnings next week could have the bar set too low. INTC is pushing a $60 resistance on improving fundamentals. Tony Zhang, expecting INTC to beat earnings, suggests selling a Feb 28 59.5/56.5 Put Spread @ $1.15 Credit. As of Friday’s close, these puts were trading at $1.14 Credit.

We’ve structured this trade in OptionsPlay so you can analyze and view this trade along with the supporting technical chart at your convenience. You can also view the Options Action’s video by clicking on the following link: INTC OptionsAction Trade

View INTC Trade

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Bullish: CAT $147.87 – Industrials

IV Percentile: 39%

The bullish DailyPlay we chose for Friday, Jan 17th is Caterpillar (CAT). CAT is part of the Industrial Sector (XLI). XLI has rallied 3.34% higher over the past month and its 1m and 6m trend turned bullish on Jan 10th and recently but has found support around $59. 

Caterpillar’s 1m and 6m trend turned bullish on Dec 19th and recently bounced higher off its $145 support level. With a technical score of 6 (out of 10), CAT is a neutral stock that is starting to turn higher.

As a stop loss, if CAT was to trade below $145 for multiple days, this would invalidate our analysis and suggest cutting losses on the trade.

View CAT Trade

Bullish: COP $65.00 – Energy

IV Percentile: 20%

The bullish DailyPlay we chose for Thursday, Jan 16th is ConocoPhillips (COP). COP is part of the Energy Sector (XLE). XLE has rallied 5.30% higher over the past month and its 1m and 6m trend turned bearish on Jan 10th and recently but has found support around $59. 

ConocoPhillip’s 1m and 6m trend turned bullish on Dec 6th and recently broke out above its $64 resistance level. With a technical score of 7 (out of 10), COP is a strong stock that will likely continue higher.

As a stop loss, if COP was to trade below $64 for multiple days, this would invalidate our analysis and suggest cutting losses on the trade.

View COP Trade

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Tuesday, January 21 at 10 AM EST – Add Leverage using Options with Limited Risk – Reserve Your Spot

Bullish – DAL $68.02 – Industrials

Catch OptionsPlay’s Chief Strategist, Tony Zhang on CNBC, Options Action every Friday at 5:30 PM EST!

Market Outlook:
The S&P 500 (SPY) has continued to climb on trade war resolution news and central bank pumping liquidity into the markets. Notably, the VIX continues to decline, suggesting that traders aren’t too concerned about market pullbacks. Despite strong momentum and relative strength, we continue to see risks of a pullback towards $302.50.  

DL Trade Idea:
On CNBC’s OptionsAction show on Friday, Tony Zhang, Chief Strategist of OptionsPlay suggested that Delta could be a strong airline stock. DAL is pushing a $60 resistance on strong fundamentals. Tony Zhang, expecting DAL to beat earnings, suggests buying a Jan/Feb 60 Call Calendar @ $0.89 Debit. As of Friday’s close, these calls were trading at $0.89 Debit.

We’ve structured this trade in OptionsPlay so you can analyze and view this trade along with the supporting technical chart at your convenience. You can also view the Options Action’s video by clicking on the following link: DAL OptionsAction Trade

View DAL Trade

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Catch Tony Zhang, Chief Strategist on Options Action every Friday at 5:30PM EST on CNBC! Watch Now

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S&P 500 Market Outlook: Bullish

Bullish Trade: WDAY $179.48 – Technology

The bullish DailyPlay we chose for Friday, Jan 10th is Workday (WDAY). WDAY is part of the Technology Sector (XLK). XLK has rallied 8.33% higher over the past month and its 1m and 6m trend turned bullish on Dec 6th and recently broke above its $90 resistance level. 

Workday’s 1m and 6m trend turned bullish on Jan 8th and recently broke out above its $170 resistance level. With a technical score of 2 (out of 10), WDAY is a weak stock that is starting to turn higher.

As a stop loss, if WDAY was to trade below $170 for multiple days, this would invalidate our analysis and suggest cutting losses on the trade.

View WDAY Trade

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Tuesday, January 21 at 10 AM EST – Add Leverage using Options with Limited Risk – Reserve Your Spot

S&P 500 Market Outlook: Neutral & Deteriorating

Bearish Trade: CVX $117.70 – Energy

The bearish DailyPlay we chose for Thursday, Jan 9th is Chevron (CVX). CVX is part of the Energy Sector (XLE). XLE has rallied 6.50% higher over the past month but its 1m and 6m trend turned bearish yesterday and recently broke above its $90 resistance level. 

Chevron’s 1m and 6m trend turned bearish yesterday and recently broke out below its $118 support level. With a technical score of 3 (out of 10), CVX is a weak stock that will likely continue lower.

As a stop loss, if CVX was to trade above $118 for multiple days, this would invalidate our analysis and suggest cutting losses on the trade.

View CVX Trade

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Tuesday, January 21 at 10 AM EST – Add Leverage using Options with Limited Risk – Reserve Your Spot

S&P 500 Market Outlook: Bullish

Bullish Trade: SNAP $17.03 – Technology

The bullish DailyPlay we chose for Wednesday, Jan 8th is Snapchat (SNAP). SNAP is part of the Technology Sector (XLK). XLK has rallied 6.59% higher over the past month and its 1m and 6m trend turned bullish on Dec 6th and recently broke above its $90 resistance level. 

Snapchat’s 1m and 6m trend turned bullish on Dec 13th and recently broke out above its $16 resistance level. With a technical score of 8 (out of 10), SNAP is a strong stock that will likely continue higher.

As a stop loss, if SNAP was to trade below $16 for multiple days, this would invalidate our analysis and suggest cutting losses on the trade.

View SNAP Trade

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Tuesday, January 21 at 10 AM EST – Add Leverage using Options with Limited Risk – Reserve Your Spot

S&P 500 Market Outlook: Bullish

Bearish Trade: WFC: $53.10 – Financial

The bearish DailyPlay we chose for Tuesday, Jan 7th is Wells Fargo (WFC). WFC is part of the Financial Sector (XLF). XLF has rallied 3.05% higher over the past month and its 1m and 6m trend turned bullish on Dec 5th but has started to consolidate over the past month.

Wells Fargo’s 1m and 6m trend turned bearish and neutral on Jan 3rd and recently started to test its support $53 support level. With a technical score of 7 (out of 10), WFC is a strong stock that is starting to turn lower.

As a stop loss, if WFC was to trade above $54.50 for multiple days, this would invalidate our analysis and suggest cutting losses on the trade.

View WFC Trade

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