In keeping with the spirit of the Olympics, this trade - if it happens - might be the best trade this month (or next).
Both Charts:
> White rectangle on weekly, starting 19 July 2021, is expanded on daily
> SMA's - 10 in orange, 20 in green, 50 in blue, 200 in purple
> RSI testing 50 - now will it hold or break lower?
> Stochastic - watch to see if %D (orange) turns down
Weekly chart:
> I rarely use Fibonacci, and it is fascinating that 0.382, 0.5, and 0.618 retracement levels match up with areas of consolidation (now supports).
> Dotted lines with numbers indicated retracement prices.
> 10sma is below 20, while price bounced up from 50sma to 20sma resistance.
Daily chart:
> Green and red bands show consolidation around 2800, which is about double the stock's pre-Covid price.
> Recent candles exemplify "sell the news" after earnings.
> Since stochastic %D has not curved down yet, there is time for a good entry, if at all.
> Dotted support line offers a price target.
Trade notes:
> I will be monitoring daily and 30m charts for a good entry.
> I am interested in the 18Mar 2300 strike and 18Feb 2600 or 2500 strike.
> I will use the 5 and 30 min charts for day trades with weekly expiry (Wed-Fri when options are cheaper).
> Option prices will fluctuate with IV and VIX changes, and theta decay is very real. If price chops or I lose confidence in trade then I will quickly trim or exit puts.
> As markets may drop and rise before 18Mar, I may sell all puts and then buy again on a new setup.