Futures are pointing to a higher start to the week, with the S&P set to open up .27% as stocks look to recoup last weeks losses. Asia stocks closed lower overnight while Europe stocks are in the green this morning. The US Dollar is lower, Yields and Oil are higher, while Gold is flat.
And this is what UPB is reading this morning : https://www.optionmillionaires.com/monday-morning-reads-96/
I added some ISRG August calls on Friday, as the stock looked to bounce out of the red on a stellar earnings report. It broke through the $540s but could not hold the gains. Late session selling pressure pushed the stock under $530. Still think this is headed to all-time highs in the coming weeks. May look for some more calls today if it holds $525:
PI broke over $35 and I closed my $35 calls for a loss. The stock certainly looks set for the next leg so will be watching today for some possible calls for a move to $40 in the coming weeks:
PS has been a disappointment the last few sessions, breaking under $30 on Friday. Will be looking to add some Oct calls today:
It is a huge week for earnings with some big names reporting:
Some Implied moves for #Earnings next week:$V 3.1%⁰$IRBT 11.5%⁰$BA 4.0%⁰$ANTM 3.9%$FB 6.6%⁰$TSLA 8.3%⁰$PYPL 5.4%⁰$ALGN 9.3%⁰$NOW 7.0%$XLNX 7.9%$PYPL 5.4%$MMM 4.4%$GOOGL 4.6%⁰$AMZN 4.5%⁰$INTC 5.2%⁰$TEAM 9.1%$TWTR 10.5%$ABBV 3.8%$SNAP 13.1%$LMT 3.0%$SBUX 4.2% https://t.co/VMxNyb3Cdw
— Option Millionaires (@OMillionaires) July 20, 2019
IRBT looks interesting for some calls although there is a large implied move, so may wait until after the report to add a position. FB, TSLA, ALGN, and NOW all report after the close Wednesday. ALGN also is an interesting name. A strong report and the stock could be back at/above that $330 level. Will be watching for a possible position.
I am coming into this week with only a few positions on(SMAR, PS, ISRG). Think there is some risk heading into next week so certainly going to be overly aggressive adding later dated calls while being open to adding weekly put hedges. Will look to do that today if the SPY fails to hold $296.50:
Here are the analyst changes of note for today:
| Credit Suisse bullish on Alphabet ahead of quarterly results | |
| Credit Suisse analyst Stephen Ju reiterates an Outperform rating and $1,400 price target on Alphabet's shares ahead of quarterly results. The analyst cited the ongoing monetization improvements in Search through product updates, larger-than-expected contribution from Google's larger non-Search businesses, and optionality for value creation from new monetization initiatives such as Maps as well as the eventual commercialization of Google's Other Bets | |
| Microsoft 2H optimism reflected in Arista shares, says Morgan Stanley | |
| Morgan Stanley analyst James Faucette said he thinks Arista Networks' (ANET) share price is fairly valuing the optimism for a better than forecast second half from Microsoft (MSFT), which he thinks has "become pervasive." He also expects hyperscale demand to return to normalized levels ahead of the 400G cycle and thinks enterprise data center activity remains healthy for Arista, but he currently values the stock at a slight discount to software peers given some uncertainty of timing around hyperscale demand improvement, said Faucette, who keeps an Equal Weight rating and $275 price target on the stock ahead of Arista's earnings report on August 1 | |
*Having issues with my feed - apologies for the lack of analyst changes today*
And here is what I am watching today:
|
Stock Ticker |
Call/Put |
Strike |
Expiration |
Closing Price |
Possible Entry Price |
|
IRBT |
CALL |
$110.00 |
Aug 16th |
.75 x .90 |
0.75 |
|
PI |
CALL |
$45.00 |
Sep 20th |
NA |
0.35 |
|
PS |
CALL |
$40.00 |
Oct 18th |
.25 x .35 |
0.30 |
Let's have a Great Day!
-JB