Trade Ideas
UOA PRO Update SILJ 8-11
8,200 18September 31 calls bought for 1.76 to 1.87 above open interest of 246 contracts. Stock 29.70-29.86.
Status Update
Ticker: SILJ
Stock: 29.70
Expiration Date: 21AUG
New UOA: 8,200 18September 31 calls bought for 1.76 to 1.87 above open interest of 246 contracts. Stock 29.70-29.86.
UOA PRO New Trade Idea SILJ 8-7
Ticker: SILJ
Type: Bullish Call Roll
Stock: 28.93
New Trade Idea
Ticker: SILJ
Stock: 28.93
Trigger: 29.17
Targets/Resistance: 29.75, 31.02, 32.04, 32.84, 33.93
Expiration Date: 21AUG
UOA: 10,000 18September 32 calls bought for 1.19-1.23 above open interest of 162 contracts; 10,000 18September 30 calls sold for 1.75-1.73 below open interest of 17,130 contracts. Stock 28.76-28.98.
SILJ $28.75 Last.
Large OTM call roll up in Sept. We see this at times when longs sense that a name has become ST overbought and want to give back less if the stock retraces but stay in for when it may not. This could be an important week in this space going forward but the nature of this move off the lows makes it a tough one as clearly retracement would only be normal after such a burst but may never come.
Trigger: $29.17, today’s open.
Strategy 1: Consider the SILJ 21Aug. 30.00 calls for $0.90 projected at trigger level today. Going to keep $ risk down for now in case we see a pullback after triggering but IF this remains over-bid, these can fit well if the verticalness persists. Starter Kit for now.
Targets: 29.75, 31.02, 32.04, 32.84, 33.93