Option Strategies: SNDK, MU& .SPX
Hello everyone! Today i want to share some option strategies with you!
1
$S&P 500(.SPX)$ Trade Idea: Sept 23 7700C / 7550P
Bullish Trigger: 7638 ✅
Bullish Target: 7700 🎯
Bullish Stop: 7600 🛑
Bearish Trigger: 7600 ✅
Bearish Targets: 7550, 7520 🎯
Bearish Stop: 7620 🛑
SPX dropped to 7507 after FOMC and rallied back to 7650 by the end of Friday.
If SPX can defend 7620 this week, which was a previous ATH, we can see 7700 again. Calls can work above 7638 early this week.
A move through 7700 could set up 7800+ if we get positive news with Iran.
2
$Micron Technology(MU)$ Trade Idea: Sept 25 1070C
Trigger: 1000 ✅
Targets: 1042, 1068 🎯
Stop: 970 🛑
MU moved from 902 to 1016 last week and is setting up for another move higher.
1042 is the key breakout level this week. If MU can get through 1042, a move toward 1100 comes into play.
MU earnings are Sept. 30. A positive reaction could put 1250+ back in play.
Calls can work above 1000 this week.
3
$SanDisk Corp.(SNDK)$ Trade Idea: Sept 25 1950C
Trigger: 1800 ✅
Targets: 1900, 1950 🎯
Stop: 1750 🛑
SNDK ran from 1504 to 1797 last week and has been basing for nearly 3 months.
1828 is the breakout level for a move toward 2000+. This week, I’d like to see a higher low hold above 1700.
If MU can run after earnings, SNDK to 2350+ is in play by November.
SNDK looks ready for the next leg higher.
Markets are always moving - and sometimes, the best move is knowing what works for you.
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