The coffee giant reports earnings on Oct. 30, and TradingAnalysis.com founder Todd Gordon spots an uptrend.
The coffee giant reports earnings on Oct. 30, and Gordon is looking at a bounce for the stock based on its chart. Gordon had"We have obviously a nice uptrend here through the summer of 2018 into now the fall of 2019," he said Wednesday on CNBC's"The first thing you'll notice is that we are pulling back to uptrend support, the source for multiple touchpoints in Starbucks.
Given that implied volatility, or the price of options, is elevated going into the company's earnings, Gordon wants to sell a put spread. He's looking to sell the Nov. 1 weekly 85-strike put and pair that with the purchase of the Nov. 1 weekly 80-strike put. This would give Gordon a credit of $141 should Starbucks rally and close above $85 on Nov. 1 expiration.
Should Starbucks close below $80 on expiration, then Gordon could lose up to $359. But the trader says that loss is unlikely, given that the breakeven for the trade is at $83.60, and the stock was trading at $86 on Wednesday.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
Trader Joe’s posts Chicken RecallTrader Joe’s posted the follwoing recall on its website. In relation to the Tip Top Poultry Recall, we have been alerted by our supplier of the following refrigerated products – sold only in …
続きを読む »
GM shares could plunge another 13% in a month, bets options traderOver the last month, GM shares are down a whopping 14% as employees and management battle, and one options trader is betting on the plunge to continue.
続きを読む »
European stocks seen slightly higher as traders await US-China talksEuropean markets were seen opening slightly higher Tuesday morning as investors await news out of high-level trade talks between the U.S. and China, set to commence on Thursday.
続きを読む »