11/17/2021 Watchlist Chart
Watchlist for 11/17/2021
$NVDA – The stock traded up 0.59% during market hours and was up 0.48% after hours. On the daily timeframe, NVDA has been trading in a tight wedge ahead of its earnings report on Wednesday (11/16) after market closes. So far, the market makers are trying to pin the stock at the 300 level (previous break out level) to reap the premiums decay ahead of earnings. You can play the earnings run up if it does on Wednesday but beware, it’s a lotto holding into earnings. It can go either way. Keep an eye on the 304 level or back test 300 level, if NVDA breaks above this level, it can test 310 to 315 level resistance. We will consider puts if NVDA fails to hold above the 300 level, as it can pullback down to 296 to 287 level support.
Contract Suggestion:
Above 304 level: 310C 11/19 or 320C 11/19 ER LOTTO
Below 300 level: 295P 11/19
$SHOP – The stock traded up 1.14% during market hours but was flat after hours. At the open, SHOP was showing relative strength at open but quickly faded towards the end of the day. On the 1hr timeframe, SHOP has been forming a flag and holding above the key MA as a support. Its key to watch volume on SHOP as the option spreads are very wide and it does a lot of $$ jumps, so the key is volume and limit order when entering. So far, buyers stepped in when it tested that 1665 level and it closed a bearish pinbar. On the daily timeframe, its still trading within a flag but lots of seller sitting at the 1700 level. The easier trade would be above 1700, but can scalp in between levels once SHOP can clear it. Keep eye on the 1679 level or back test 1665 level, as it can test 1690 to 1700 level resistance. Above 1700 level, it can test 1714 to 1724 level resistance. We will consider puts if SHOP fails to hold above the 1665 level, as it can drop down to 1661 to 1650 level support.
Contract Suggestion:
Above 1679 or B/T 1665 level: 1750C 11/19 or 1800C 11/19
Below 1665 level: 1600P 11/19
$PYPL – The stock traded up 1.47% during market hours and was up 0.06% after hours. Strong move by PYPL this week after bottoming out around the 200 level and has started to fill the gap from the previous gap down. On the daily timeframe, PYPL started to fill the gap since Monday after breaking above the 212 level and quickly approaching the 9DMA (215.69). Once PYPL can get over that 9DMA, we can start to see the gap fill back to 225 after dropping down 30% from its all time high a few months back. Keep an eye on the 217 level or back test 215 level, as it can test 220 to 225 level resistance. Above 225 level, it can test 227 to 230 level resistance. We will consider puts if PYPL fails to hold above the 215 level, as it can pullback down to 210 to 200 level support. The best entry for long was at the 200-205 range last week.
Contract Suggestion:
Above 217 or B/T 215 level: 220C 11/19
Below 215 level: 212.5P 11/19
$NFLX – The stock traded up 1.19% during market hours and was up 0.22% after hours. On the daily and 4hr timeframe, NFLX has been forming a nice cup formation with a possible handle pullback forming on both timeframes. NFLX has been quietly grinding higher and showed strength on Monday when the market dipped. NFLX has a chance to test and break all time high this week if the market and QQQ continues to trend higher. There are two scenarios, either wait for ATH break or catch the pullback on the handle formation. Keep an eye on the 691 level (ATH break), or a pullback down to 686 level or 680 level for the handle formation, as it can test 700 to 712 level resistance. We will consider puts if NFLX fails to hold above the 686 level, as it can pullback down to 680 to 676 level support.
Contract Suggestion:
Above 691 level: 700C 11/19
Below 686 level: 675P 11/19
***NEWS TO LOOK OUT FOR THIS WEEK***
- Unemployment claims data on Thursday (11/18) at 5:30am PST/8:30am EST
- OPEX on Friday (11/19) – expect volatility this week