Wait for the dipThe biggest lesson, I have learned while trading is that: never buy-in when the price has gone parabolic.
My plan is to set a limit buy around: 59.34
CHWY trade ideas
CHWY reversalStock is bouncing from the strong level and reversing with the rest of internet retail industry
CHWY long Entry point at $56.82 with a target of $63.0 then evaluate again.
Above all my EMAs ( 5,10,21,50,65), looking for a increase of volume.
One of the COVID-19 winners.
fight to pick a sidecurrently CHWY is hanging around resistance, needs to make it above to then prove it as a support, would like to see above 60 and hold for uptrend continuation
Possible bullish breakout in $CHWYThinking Chewy could have a breakout similar to the one last month.
CHWY Defensive Bullish inclined - 18 Sep ExpiryCHWY is an online retailer of pet food. Since the start of the year is has generally been on a bullish uptrend. I picked CHWY as it's price movement seems pretty predictable and not very volatile.
Price has recently hit a nice high 52 week high and now seems to be in a range and testing that key 52 week high price point. I feel that there is a higher probability of it moving downwards, especially with it's RSI leaning towards the higher band of 60.
As my defensive trade is focused on picking off premium. As such I have made it bullish inclined with a Max gain at strike 70 and breakeven at 71.23. So the scenario I aim for is a bearish price that so that my contracts can just expiry worthless.
I'm worried as Tradingview has pegged earnings at 21 Sep, but other sources has it at 8 Sep/15 Sep. I only realised this after the trade was entered and TOS showed a different earnings date.
Defensive Profit $1333
Bought 18 Sep @ Strike 60 Calls +1, $2.7
Sold 18 Sep @ Strick 70 Calls -20, $0.81
BP block: 12k
OPENING (MARGIN): CHWY OCTOBER 16TH 47/105 SHORT STRANGLE... for a 4.02 credit.
Notes: As with the WORK play, selling the 16's. High 30-day at 118.7%. Will look to take profit at 50% max/adjust sides on approaching worthless or side test.
CHWY earnings expecting move upThis is based on my dowsing method and is for my own journaling purposes. I don't really follow this one stock, but I have been a customer!
I get a reversal up with a high at 10% up. It may have a break first and then reverse up, or just sell off into the close.
CHWY: possible reversalLook at this hammer!
Watching closely for possible reversal.
Additionally: earnings 10 september, possible run into earnings.
We will see.
