SPRT- Bought Jan17- 30 Option callsSeems breaking up a symmetrical triangle, money-flow in strong. Waiting for a big announcement, so we took some speculative Option calls.
For trade we took some Jan17- 30 call for $6
AB3A trade ideas
SOLD SRPT JUNE 17TH 6 SHORT PUTAlthough there are some warts on this particular trade (namely, the reason why SRPT tanked today) and the fact that liquidity in the options is not that great, I couldn't resist getting over $100 credit on a short 6 .... .
Metrics:
Probability of Profit: 65%
Max Profit: $125/contract
Max Loss: $475 (the strike price minus the credit received).
Notes: Some price discovery may be worthwhile here. I got filled for $118, but if I'd been slightly more patient, I probably could have gotten a few more bucks out of it. I'll look to take it off at 50% max profit.
SRPT looking ripe for a breakout above 38We've been watching SRPT consolidate for a few weeks now between the 35 fib extension support level and 38 resistance level. We've been building our position with $40 calls, adding on drops into the 35 area.
Yesterday, we saw the stock top 38 on the open only to end the day down +4%. With this morning's announcement, we gain a timetable for risk, which makes it's a bit easier to structure trades. The stock is up 7% and getting ready to breakout. Strap in. Looking for a re-test of $42 on optimism.
Support holding, adding more here. Targeting: 42.00We're seeing consolidation forming above 34.88, my entry point from last week. Today's 5% decline doesn't seem completely out of line, given today's tape and broad selling. The 35 handle held, and today's lows stayed above last week's lows. I'm using today to buy more and still targeting 42.00.
SRPTThis stock had a stock split without splitting it split about 50% due to bad earnings...it has now found support on the 200 dma. This offers a good entry should you take the risk to buy here. However it may be best to wait until it breaks out to the upside or downside to take a trade long/short. The potential on breakout to upside is back to the 40s could take months but would be a double from here,
