list of TOWs
My TOW is for Morgan Stanley, MS. I am suspicious of some of the money center banks this quarter, however, I think MS has an upper hand and should have good earnings on July 16th. I want to set up a bullish play in MS using a simple Call Debit Spread with super low risk and good risk / reward.
TOW is a bullish setup on MRNA. It has triggered on a 15 minute and the setup zone is 61.72-62.07 with an overall target of 98.12.
For this trade, I’m making a bet on what NFLX “won’t do” going into Friday. Although I don’t think it is going to fall, I also don’t think it is going to be able to push through $440, so I’m setting up a 440/445 call credit spread.
Buying ETSY Sep 18 75 Calls when it trades lower to 76.00 – 75.80. Pure directional play. I don’t like that’s it lagging, but much like my WORK trade, it’s still in the zone with relatively low volatility.
I am looking at SQ to follow through long via the 130/195 min setups and break above key resistance. To play the idea, I am using a conservative put fly strategy 80/84/88 +2/-3/+1 to take advantage of a directional move, with defined downside risk.
I like CHWY because it is setting up perfectly on the daily and hourly charts. A nice double bottom into the daily 50 SMA is giving us a great entry location, and positive Moxie divergence on the hourly chart tells us there is strength. Now we just have to find an appropriate entry, but CHWY looks great for a longer term play.
Buying BYND: I like the setup in the meat alternative and will look at a theta positive strategy into next week.
BEARISH CRUDE Futures Spreads: After the recent relief rally in crude futures and crude spreads, I’ve identified an opportunity to short these spreads at what appears to be a peak right under parity. The crude market remains in a bearish macro trend due to unprecedented oversupply and a huge decrease in demand. I am looking for a break in this rally as we head into the monthly rollover period. This trade has a great risk : reward ratio with a moderate probability for success.
Bullish MRVL using a simple Call Debit Spread. We will target a move higher to 29 as a run into earnings and I want this trade to expire before earnings.
My TOW is a bullish setup in WORK because it is a ROYAL setup and has a nice pullback for entry.