Trade Ideas
UOA PRO Update AVGO 7-16
26,000 16October 440 calls bought for 22.12 above open interest of 627 contracts; 26,000 16October 410 calls sold for 30.67 below open interest of 27,118 contracts. Rolls trade on Log 06/29. Stock 383.10.
Status Update
Ticker: AVGO
Stock: 380.65
Expiration Date: 21AUG
New UOA: 26,000 16October 440 calls bought for 22.12 above open interest of 627 contracts; 26,000 16October 410 calls sold for 30.67 below open interest of 27,118 contracts. Rolls trade on Log 06/29. Stock 383.10.
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UOA PRO New Trade Idea AVGO 6-29
Ticker: AVGO
Type: Bullish Call Roll
Stock: 370.72
New Trade Idea
Ticker: AVGO
Stock: 370.72
Trigger: 375.23
Targets/Resistance: 384.40, 399.89, 411.40
Expiration Date: 21AUG
UOA: 26,000 16October 410 calls bought for 27.90 above open interest of 1,168 contracts; 17,500 17July 360 calls sold for 22.25 below open interest of 19,610 contracts. Stock 370.72.
AVGO $370.85 Last.
Massive now Oct. set call roll up. Semis plunged earlier but the Gang has bounced them Big and a squeeze into Q2’s end and/or the holiday weekend could be back on the menu. AVGO clobbered from just under $500 to just about 200 SMA from which it is trying to bounce.
Trigger: $375.23, today’s current high. Aggressive, the 10 SMA is likely more reliable but it’s nearly $10 more of “wait”.
Strategy 1: Consider the AVGO 10July 380.00-400.00 call spread for $6.30 projected at trigger level today. Uncappable.
Strategy 2: Consider the AVGO 21Aug. 380.00-420.00 call spread for $13.60 projected at trigger level today. Uncappable.
Targets: 384.40 (10 SMA currently), 399.89 (20 SMA currently), 411.40 (50 SMA currently)