02/16/2022 Watchlist Chart
Watchlist for Wednesday, 02/16/2022
$NVDA – The stock traded up 9.18% during market hours but was down 0.45% after hours. NVDA was showing relative strength compared to the overall market and closed near the high of the day. They report earnings on Wednesday (02/16) aftermarket closes pricing in a 23 point me in either direction. On the daily timeframe, NVDA has been trading in a larger wedge and it’s setting up to break out if it blows out earnings. Keep an eye on the 266 level (near 100MA), as it can test 270 (50DMA) to 272 level resistance. Above 272 level, it can test 277 to 285 level resistance. Above that can test 295 to 300 levels. We will consider puts if NVDA fails to hold above the 263 level, as it can pull back down to 260 to 254 (previous break out level) support.
Contract Suggestion:
Above 265 level: 275C 02/18 (12.8K Volume @6.75) or 280C 02/18 (14.8K Volume @2.75) – LOTTO
Below 263 level: 250P 02/18 (13.7K Volume @5.20)
$FB – The stock traded up 1.52% during market hours but was down 0.61% after hours. On the daily timeframe, FB continues to defend that 215 level for its life as evidenced by three strong bounces so far despite trending in a downtrend. There’s a juicy gap to fill above, but a better confirmation would be once FB can close above the daily 9DMA (235). Keep an eye on the 224 or backtest 215 level, as it can test 228 to 235 (9DMA) level resistance. Above 235 level, it can test 241 to 245 level resistance. We will consider puts if FB fails to hold above the 215 level, as it can test 210 to 207 level support. Below that can test 200 level support.
Contract Suggestion:
Above 224 or B/T 215 level: 225C 02/18 (52K Volume @1.88) or 227.5C 02/18 (24.1K Volume @1.18)
Below 215 level: 210P 02/18 (26.7K Volume @ 0.80) – Needs big volume break at 215 for this to pay
$CROX – The stock traded up 3.58% during market hours and was up 3.95% after hours. CROX reports earnings on Wednesday (02/16) pre-market and the weekly options are pricing in a 14pt move in either direction. On the daily and weekly timeframe, lots of consolidation and dojis on weekly showing indecision heading into their earnings report. Currently, its trading within a downtrend and has a gap to be filled from the previous earnings down to 85. With their acquisition of the HeyDudes brand, this may factor into their earnings report and further discussion on their guidance into the next quarter. Keep an eye on the 109 level, if CROX can break above with volume, it can test 117 to 123 (50DM) level resistance. Above 123 can test 125 to 132 (200DMA) level resistance. We will consider puts if CROX fails to hold above the 92 levels, as it can pull back down to 89 to 85 (gap fill).
Contract Suggestion:
Above 109 level: 115C 02/18 (734 Volume @2.30) or 125C02/18 (2.1K Volume @0.95)
Below 92 level: 90P 02/18 (3.2K Volume @2.75) or 75P 02/18 (1.3K Volume @0.55)
$UPST – The stock traded up 4.31% during market hours and was up 22.76% after hours. UPST reported major shares buybacks and earnings beat which rocketed the stock after hours. On the daily timeframe, UPST was setting up an ascending triangle with a breakout level at the 120 level with tight consolidation under that. Based on the after-hours price, keep an eye on the 139 level, if broken above, it can test 144 to 150 level resistance. Above 150 level, it can test 156 to 162 level resistance. We will consider puts if UPST fails to hold above the 130 level, as it can test 127 (5ODMA) to 120 level support.
Contract Suggestion:
Above 139 level: 150C 02/18 (4K Volume @2.28)
Below 130 level: 120P 02/18 (921 Volume @20.20) – these put super jacked from ER, LOL who took puts.
***NEWS TO LOOK OUT FOR THIS WEEK***
- FOMC minutes on Wednesday (02/16) at 11:30 am PST/2:30 pm EST
- Unemployment claims data on Thursday (02/17) at 5:30 am PST/8:30 am EST
- OPEX on Friday (02/18)
- Look out for the ongoing Russia/Ukraine crisis