SQ looks to continue higherIf we have a pull back, $43 would be a great support to buy on the hourly chart.
In the meantime, buying off the 50 day EMA on the hourly time frame would be a great idea.
Here is the hourly chart:
SQ
SQ possible bracket trade.With the last two days candles making a tweezer top and almost a tweezer bottom (missed it by a nickel). This could signify pressure building in either direction for a quick bracket swing trade bearish or bullish whichever triggers first.
SQ bounce playSQ has had a nice pullback from the 50s down to 50sma . its oversold now. it looks to be starting a bounce with stop under 50sma
THE WEEK AHEAD: SEAS, CTL, SQ, M EARNINGS; TEVA (NON)SEAS announces earnings on 11/7 before market open, with an implied volatility of 71%, which is at the upper end of its range over the previous 52 week period. The November 17th 11 short straddle is paying 1.37 at the mid with a comparable iron fly probably not paying enough to make it worthwhile (less than 1/4 the width of the longs).
CTL (implied volatility of 62%; at the top of its 52 week range) announces on 11/8 after market close. The quasi-short straddle or tight short strangle 16/17 in the November 17th expiry pays 1.27 with break evens slightly wide of expected move. As with SEAS, the iron fly doesn't pay enough to be worthwhile ... .
SQ also announces on 11/8 after market close. With an implied volatility of 55, it's in the top quarter of its annual range. The November 17th 33/42 short strangle camped out at around the 20 delta strikes yields 1.03 in credit, implying that a defined risk play like an iron condor won't pay one-third the width of the wings, although it may be worth pricing it out closer to earnings.
M announces on 11/9 before market open (implied volatility 55, top quarter of range). The November 17th 18/19 tight short strangle/near short straddle pays 1.43 at the mid, with break evens wide of the expected. The November 17th 14/18/19/23 comparable defined risk iron condor/fly play pays 1.86, which is close to 1/4 of the width of the longs, so worth a check shortly before the announcement.
TEVA's earnings are in the rear view mirror, but its implied volatility remains elevated here at 65 -- at the upper end of its 52 week range. The December 15th 30 delta strike at 10 pays .30 as a potential short put/acquire/cover play with a cost basis of 9.70 in any acquired shares. For the patient and/or fearful of the possibility that this company's another VRX, going monied covered call out of the box with a share purchase here at 11.40 and a sale of the March 16th 10 call would cost 9.06 to put with a max profit of .94.
SQ swingtrade ideaSQ nice consolidation after flat top breakout last month. we have now been in range for last 3 weeks breaking over the 29 spot. if we can close above 29 think this can be a multi day hold with a 1 dollar stop.
SQ: Buying Opportunities and Positive Momentum #TrendLinesMatterThis should be self explanatory. SQ has stuck with a strong positive trend with plenty of volume. If earnings are great, which they are expected to be, this has lots of room for growth. NYSE:SQ
Pull back to support?I think we either pull back to support or break bullish during the upcoming week, volatility is very low...I like SQ now for long term but i love it down at 8.14
lockup expiration coming in JuneThis may be another "cool hype runner"...big lockup expiration coming in June ..Jack D runs this and TWTR and you know what happened to TWTR's stock price. Good product but Young insiders..negative earnings etc etc. If there's going to be selling into the lock up expiration it may have already begun. Worth trailing.
