September 2020 Monthly Plays

Posted at: September 11th - 3:27 PM

Monthly Option Alert

Alert Message

Crazy time friends. Tech and S&P have been taking a breather while the DOW holds its own. Charts are breaking to lower lows approaching the 50 day moving average. We have several key ingredients for a strong bounce next week. This does not mean the downtrend is over, it’s a bounce. Several key facts, DOW during this triple witching week has been up 16 of the past 20 times, we have an FOMC meeting Tuesday and Wednesday where they will almost certainly stay the course. On a side note though the Volatility index (VIX) has been steady at an elevated level of 27.5 causing option prices to be inflated. What that means for us is we need larger gains than normal to achieve super gains. Today I would like to get you started with a half size position where we can add more Monday on any weakness if necessary. News cycles are crazy these days and any news of a vaccine could spark a major rally. Plays should be purchased between 3:50pm et today and 4pm. Set you expectations in the 30-50% range with sell limit orders and we should do well. I’ll be back in touch Monday morning on adding to positions.


AAPL – I suggest the AAPL 112.5 calls at market, AAPL200918C112.5.

AVGO – I suggest the AVGO 360 Calls at market, AVGO200918C360

DIA – I suggest the Dia 277 Calls at market, DIA200918C277

GOOG – I suggest the GOOG 1520 Calls at market, GOOG200918C1520

IBM – I suggest the IBM 122 Calls at market, IBM200918C122

QQQ – I suggest the QQQ 270 Calls at market, QQQ200918C270

SPY – I suggest the SPY 335 Calls at market, SPY200918C335

Limits & Stops

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All options are buy to open, sell to close. Options follow the following format: Stock + Expiration Date + Option Type + Strike Price. Example QQQ201220C120 = QQQ 2020/12/20 Call $120.

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