trade idea

Trade Idea: $NET 2/1/2021

by | Jan 31, 2021 | Trades

$NET

Trade: Bullish

Pivot: 82.07

Edge: $NET has a daily squeeze with a rising histogram.  We also get a Gamma squeeze at the 84 strike, with the most amount of Gamma expiring this week.  Above the pivot and we should have reach 84.99 fast.  If we can take out that level we have a Fib cluster at 87.15-88.77.  After that we should see the 127.2% fib levels, with the short term one at 91.41 and the longer term Fib level of 93.60.  Earning are next week so I think the monthly contracts give us the best value.  This will also give us more time for a run into eps.

A close below the pivot and we will exit the position.

Options Idea: Feb 19th 95c

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