Trade Ideas
UOA PRO Update MTUM 8-4
11,583 21August 317.50 calls bought for 6.21 above open interest of 36 contracts; 7,774 21August 305 calls sold for 11.57-11.56 below open interest of 13,193 contracts. Rolls trade on Log 07/28. Stock 309.56.
Status Update
Ticker: MTUM
Stock: 309.56
Expiration Date: 21AUG
New UOA: 11,583 21August 317.50 calls bought for 6.21 above open interest of 36 contracts; 7,774 21August 305 calls sold for 11.57-11.56 below open interest of 13,193 contracts. Rolls trade on Log 07/28. Stock 309.56.
Original UOA was longer dated and we went with a “rolling” Starter Kit in the sense that we’d keep following it and keep using long call only in the front week of the triggering. Will cover through Aug.
UOA PRO New Trade Idea MTUM 7-28
Ticker: MTUM
Type: Bullish Call Buying
Stock: 293.24
New Trade Idea
Ticker: MTUM
Stock: 293.24
Trigger: 295.06
Targets/Resistance: 302.09, 303.24, 304.92
Expiration Date: 31JUL
UOA: 7,774 21August 305 calls bought in one order/two prints for 6.30-6.40 above open interest of 72 contracts. Stock 293.24.
MTUM $292.19 Last.
Large Aug. set OTM call buy that appears with MTUM having slid below the 100 SMA but is trying to reverse higher as the “save” of the market playbook is put in motion. Can’t rule out a squeeze back up somewhat in the short term. Seemingly has “room” before hitting resistance if it can trigger.
Trigger: $295.06, today’s current high.
Strategy 1: Consider the MTUM 31July 295.00 calls for $4.85 projected at trigger level today. Only if this trigger soon. Would look to same strike in 07Aug. expiry if this triggers late on Wednesday or after.
Targets: 302.09, 303.24, 304.92