Trade Ideas
UOA PRO New Trade Idea IONQ 7-28
10,000 20November 50 calls bought for 3.05 above open interest of 356 contracts; 10,000 20November 60 calls sold for 1.88 below open interest of 11,692 contracts. EPS *estimated* 08/05. Stock 32.50.
New Trade Idea
Ticker: IONQ
Stock: 33.09
Trigger: 34.85
Expiration Date: 31JUL
UOA: 10,000 20November 50 calls bought for 3.05 above open interest of 356 contracts; 10,000 20November 60 calls sold for 1.88 below open interest of 11,692 contracts. EPS *estimated* 08/05. Stock 32.50.
IONQ $33.71 Last.
Large Nov. set OTM call vertical added with the stock making a new multi-month low well below the 200 SMA with EPS looming next week. The “Save” is on in the market and it could be successful. SMH well off lows. IONQ charts not pretty but we’re talking shorter term squeezing.
Trigger: $34.85, 10 SMA currently.
Strategy 1: Consider the IONQ 31July 34.50 calls for $1.60 projected at trigger level today.
Targets: 35.43, 36.50, 37.30 (15 SMA currently), 38.31, 38.85, 39.80