NET / Cloudfare Pre-Earnings before the big beat Trade Review
NET on the 15-minute chart demonstrates the swing-long trades of this past week. 5-6 entries
and 3-4 exits- accumulating a few shares at a time and closing only one at a time to gradually
average up. The setup is explained in the chart textboxes. Using TV indicators for line crossing
alerts to minimize the effort of time. Trade is still open and following the trend of price action.
NET reached orbit in the last-minute run-up before the big earnings beat. Nine shares
and one call contract on the ready for the launch with advanced planning. It was good enough
for now. The call contract will come off the table before the NY lunch hour. The shares will run
the weekend and be on watch for over-extension and fade next week.
and 3-4 exits- accumulating a few shares at a time and closing only one at a time to gradually
average up. The setup is explained in the chart textboxes. Using TV indicators for line crossing
alerts to minimize the effort of time. Trade is still open and following the trend of price action.
NET reached orbit in the last-minute run-up before the big earnings beat. Nine shares
and one call contract on the ready for the launch with advanced planning. It was good enough
for now. The call contract will come off the table before the NY lunch hour. The shares will run
the weekend and be on watch for over-extension and fade next week.
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A relevant news article linked here www.cnbc.com/2024/02...ngs-report-2023.html
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The call option contract did 5X today ( strike $100 for 2/16/24) that was before
the explosion- share price up intraday 5 % on the run up and then 20% in the post-earnings action. I expect 13X overall and will take the profit off the table. I am tempted to roll this single contract forward a week to decrease the leveraging and so the risk but the better approach is to take the excessive profits now and be done
with it.
the explosion- share price up intraday 5 % on the run up and then 20% in the post-earnings action. I expect 13X overall and will take the profit off the table. I am tempted to roll this single contract forward a week to decrease the leveraging and so the risk but the better approach is to take the excessive profits now and be done
with it.
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Nice finish to the trading week. NET popped and then went into Friday afternoon
consolidation to end the price action. May have continuation next week.
consolidation to end the price action. May have continuation next week.
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Afterthought- extreme insane return on options- took 25% of them with close and rolled the rest just before the NY lunch hour
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Zoom-in View shows NET as a light retrace so far so more to go ? or it will have a shallow one just too strong? ARM and PLTR were similar awaiting more action .
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