"Special Edition" Weekly Review OCT 6, 2024

We as stock market investors have been waiting, could this past weeks price action be signaling that stocks are finally coming out of their bases and ready for advancement? Many stocks elevated not only out of bases but into buy areas…… Earnings season kicks off in just 2 weeks, be sure to take a look before entering any new trades. You don’t want to get caught with an unpleasant “earnings surprise” Tonight lets take a “deep dive” look at a few of our friends, and then 5 new stocks for consideration.

CAT
You already knew that would be #1. We initiated our entry positions down at the 330 and 340 levels… We are closing in on 400 very fast here. Do you see that Gap up in the top right of the box where it broke out? The positioning of that Gap offers us a near term price target of the 420-425 range.
With Earnings here on OCT 23, 2024 we are waiting to enter with any new Options for now. Options Premiums have risen and we are simply managing the positions that we already have unless Options activity increases to match the new pricing.

SFM
Earnings is on OCT 30, 2024. Options investors could look at buying the 110 Call and selling the 115 Call for OCT 18, 2024. The MID price is at 2.85… ( we never pay more than the MID, no way ) That is the last available date prior to earnings.

META
Wow, strong this past week, just strong. Earnings is on OCT 29, 2024
We have several possibilities to invest at this level right now. Providing that the investor is bullish they could buy the 595 Call and sell the 600 Call for this Friday OCT 11, 2024. The MID is at 2.45………
If the investor wanted the OCT 18, 2024 date same strike prices the MID moves to 2.54..
The last date prior to earnings is OCT 25, 2024 for 2.81
“The Moneyness” with the highest O.I. sits at the OCT 18s and those are still within our “fair value model”
If META surpasses 600 we will then move to the 600 / 605’s
For investors with a larger appetite for risk the 600 / 610’s are viable
If this breakout continues something tells me will be discussing META more in the near future

Here are 5 new ones that are all worthy of our consideration
All 5 of these can be looked at as stock purchases here, not just Options

DOCN
“The Force is strong with this one” ~~ Darth Vader~~
Not only did it break out of it’s box, it has already retested resistance and bouncing again
Earnings is on NOV 7, 2024… It holds a DTC score of 4.7…. Our favorite number is to be above 5, but 4.7 is seriously respectable.
Options:::::The play is at OCT 18, 2024…. An investor could buy the 42.5 Call and then sell the 45 Call. The MID on that is 1.00 even. That spread is a little tight and to capitalize a bit more one would consider the 42.5 / 47.5 for those who are more risk adverse but still want down side protection. This is one we intend to add into our portfolio should it continue to perform

LUMN
Earnings is on OCT 29, 2024 … Options on it are good all the way up until earnings. The ones to consider are for OCT 25, 2024. Buy the 6.5 strike and sell the 8.. The MID is at 0.52
We are a fan of this with it’s Wedge formation. If it goes south it is a no go and we won’t look back…. Right now is it’s “make or break point” All it will take is a little Volume to send it north. C’monnnnnnn Volume!!!!! 😃 

V
Earnings is on OCT 22, 2024… This one has some serious Options activity going on. Buyers have stepped in everywhere. There are many / multiple plays that could be employed with V. Lets stay with the theme of the night and look at the ones with the least adjustment needed prior to earnings. With the endless choices to choose from we are going to narrow it down to OCT 17, 2024 buy the 277.50 and sell the 282.50
The MID on that is 2.27..

VIST
Earnings is on OCT 23, 2024…. We are looking at OCT 18, 2024 buying the 50 Call and selling the 55 Call. If VIST does not advance from right here it is a no-go until it proves itself…. It could very well fall back into its box here if it does not breakout

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The Options Coach