OddStockTrader Scan 3/19/2020

by | Mar 18, 2020

Wild wild day but I think we got at least the weeks bottom today. Dabbled on SPY just a few mins before I felt bottom. UNCANNY how it felt like any other bottom, OTC or panic bottoms. Crazy how you can just feel when it gets totally blown out to one side and there is no one left to sell. CHARTS ARE EMOTIONS. Figure that part out and everything else becomes easier in the game. I think we might be primed for at least big gap up but who knows as futures already turning lower as I write this.

Here is tomorrow for me.

APRN – Unreal and PURE short squeeze. This will be a monster unwinder but don’t step in front of it too early because it could go farther than you think just like SPCE. Will see if I can get a borrow tomorrow. If ETB will just trade it or last resort of put options

WTRH – $3 parabolic or more for the short.

WEN – If this cracks into $5’s tomorrow will look to snag more for long-term and trade it for bounce. This will be a busy location during these next few months.

DECN – Killer trade for many and I had it sub .05….ooops. Great work all and TJ as well for the early find. Probably gap and run.

SCO – $70-75 Parabolic idea, but would prefer just a retest of near the highs and have oil bounce for the short on this.

NCLH – Still a daily eye until $0 I gues…. Either way if the turns happen on these names will be a great trade. Maybe $5 washout tomrrow…which sounds and is unreal.

APDN – Wild and sick alert by 530 in the $3.50s. Possible gap up and run but will play it by ear. They tend to crush it after a big day move so won’t be shocked if there is an offering or some nonsense premarket.

3 Comments

  1. You can also sell calls if there’s no shares available. The options are pretty rich right now. If you buy the put, it will loss value fast due to the extensive premium they pumped in today. Also, over time the -1 call short will lose value due to theta decay….. So, selling an OTM call gives you the opportunity to be right directionally, and make $ on the theta decay/time value of the option 👍. Hope that helps. I couldn’t find shares either. So, I had to get creative

    Reply
    • For APRN

      Reply
  2. Thanks

    Reply

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