Hi everyone,
Just wanted to give you an update to three stocks out of our watchlist that we will be watching today.
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PFE Looking to the downside as PFE continues its downward trendline break. Yesterday saw a test of the 21 EMA with a failure to close above it signaling further downward movement. We are going to be looking for a pull back up towards the 21 EMA and then will be selling calls on the nearest expiration weekly (4 days) with a hope to collect some quick theta.
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OXY After closing for two days below its recent trendily break, we're going to be watching OXY for continued weakness today. We had been preparing for it to rise up, but its starting to move downward now. For our trade we'll be looking for a move up to the 21 EMA and then selling calls. Vol for OXY is decent at the moment and we are able to get away from the ATM by a few strike for some cushion room.
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TSLA Continued upward climb. Whats intersting is that Short as a % of Float is sitting at 26%. So if it can push higher a bit, short positions will have to be covered, driving the stock to new highs. Basic Fib extension gives us an initial price target of 320. Vol is pretty low at this point, but for the risk of the Greek contagion, we have not yet decided whether we will buy calls or sell puts.
Submitted July 06, 2015 at 08:58AM by tradersinsight http://ift.tt/1S2LBLz
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