Option Strategies: MU, PLTR& .SPX
Hello everyone! Today i want to share some trading ideas with you!
1
$Micron Technology(MU)$ Trade Idea: July 10 1100C
Trigger: 1000 ✅
Targets: 1058, 1100 🎯
Stop: 956 🛑
MU dropped from 1255 to 950 since earnings. If MU gives up 928 it can drop to 900, 863 next.
I’d wait to see if MU can reclaim 1000 before considering calls. MU above 1000 can move back to 1058-1086 again.
It may take a few more weeks before we see an easier trade for the upside for MU. The best entry for those that missed the run from April to June would be near 651.
2
$Palantir Technologies Inc.(PLTR)$ Trade Idea: July 24 135C
Trigger: 125 ✅
Targets: 135, 140 🎯
Stop: 120 🛑
PLTR continued to bounce higher this past week from 108 to 132.
PLTR looks like it’s starting to break this consolidation phase and move back to 161-166 on the next leg higher.
IF PLTR can hold a higher low above 125 it can push back up to 161-166 range by August.
3
$S&P 500(.SPX)$ TRADE PLAN 📈 📉
SPX bullish plan: SPX above 7500 | SPX July 8 7550C 📈
T: 7546, 7570 SL 7468
SPX bearish plan: SPX under 7438 | SPX July 8 7400P 📉
T: 7400, 7360 SL 7468
SPX moved from 7348 to 7540 at the highs last week. SPX ended up closing at 7483 on Friday after dropping down to 7427.
The whole month of June has been a consolidation month. Let’s see if we get through 7621 or under 7228 this month. We’re in about a 400 point range for now.
Calls can work above 7500 this week. If SPX gives up 7438 it can test 7400, 7360.
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