11/11/2021 Watchlist Chart
$AFRM – The stock fell 15.37% during market hours but was up 27.33% after hours. Strong move by AFRM after hours from positive earnings report with better guidance after being beat down by UPST earnings report. It managed to quickly fill the gap from Wednesday’s gap down and was able to retest previous all-time high (176.65). Based on after hours price, keep an eye on the 170 level, if AFRM can break above with volume, it can test 176 to 180 level resistance. Above 180 level, it can test 185 to 190 level resistance. We will consider puts if AFRM fails to hold above the 166 level, as it can pullback down to 154 to 147 level support. Option Price showed bearish heading into earnings. LMFAO.
Contract Suggestion:
Above 173 level: 180C 11/12 (2.9K Volume @0.90) – Price will change due to AH price action
Below 166 level: 150P 11/12 (1.4K Volume @21.00) – Price will change due to AH price action
$NFLX – The stock fell 1.38% during market hours and was down 0.60% after hours. On the daily timeframe, NFLX broke down the triple inside day and continued to make lower highs and lower lows for the past few weeks. It can also be seen as a head and shoulder pattern with the neckline at 645 level. There as continually been less flow in NFLX for the past few weeks, so this would need time to set up for the upside as its leaning more towards downside. Keep an eye on the 645 level, if NFLX can break above with volume, it can test 648 to 652 level resistance. Above 652 level, it can test 665 to 676 level resistance. We will consider puts if NFLX fails to hold above the 645 level, as it can pullback down to 642 to 640 level support. Below 640 level, it can pullback even further down to 635 to 633 level support.
Contract Suggestion:
Above 645 level: 650C 11/12 (1.4K Volume @4.65) or 660C 11/12 (4.9K Volume @2.06)
Below 645 level: 640P 11/12 (1.3K Volume @3.50)
$SHOP – The stock fell 5.20% during market hours but was up 0.75% after hours. On the daily timeframe, SHOP has re-tested the wedge break out and held above it so far. This would be a great re-entry for R/R if SHOP holds strong above this break out for move higher despite closed a strong bearish candle but with low volume. Keep an eye on the 1469 level or back test of the 1452 level (break out level of the wedge), as it can test 1486 to 1500 level resistance. That 1500 remains a tough wall for now to watch the volume break on this one. If SHOP can break 1500 with volume, it can test 1522 to 1541 level resistance. We will consider puts if SHOP fails to hold above the 1452 level, as it can pullback down to 1446 (50DMA) to 1429 level support.
Contract Suggestion:
Above 1469 or back test 1452 level: 1500C 11/12 (694 Volume @ 10.50)
Below 1452 level: 1400P 11/12 (1.5K Volume @2.50)
$CHWY – The stock fell 5.83% during market hours but was up 0.33% after hours. On the daily timeframe, CHWY has been forming an inverse head and shoulder pattern (bullish reversal pattern), with a key break above 79 level for a move back higher. Despite CHWY closing a bearish candle, there’s a chance it can bounce at the 50DMA (70.60) level for a great entry. Keep an eye on the 73 level or back test of the 70/69 level, as it can test 75 to 79 level resistance. Above the 79 level, it can test 81 (200DMA) to 85 level resistance. We will consider puts if CHWY fails to hold above the 69 level, as it can pullback down to 66 to 62 level support.
Contract Suggestion:
Above 73 level or back test 70/69 level: 75C 11/19 (482 Volume @1.38) or 85C 12/17 (674 Volume @2.33)
Below 69 level: 69P 11/19 (145 Volume @1.17)