Pre-market Live and Options Picks for 01 11 2021

Happy Monday. Today, we’re going to be getting into what I’m looking at pre-market. Let’s get right into the charts. I’m going to go ahead and expand this [00:21]. This morning, pre-market, we have this gap down on TWTR push back up to this [00:34] major area of resistance. We’re down again. TWTR definitely is going lower. Forty-five is in the cards today.

We do have this [00:53] gap window to fill, but we’re also pulling down the 50-day simple moving average. What I’d like to see is either a break of this [01:09] pre-market low for puts, or I’d like to see a push up of this [01:19] to hold, and a push up back to this 48, 36 – well, 48, 43, 50 area to get into some puts. I like to just go about $1 out of the money, weekly expirations.

TWTR, as you know, deleted Trump’s Twitter account, so I think that a lot of users are leaving. There’s just a lot of turmoil as far as people backlashing Twitter for freedom of speech Amendment in the constitution. You do have a right to say what you want to say whether or not you’re liked. If you don’t like someone or what they’re saying, you can unfollow them. It’s that simple.

NVDA, we’re gapped up pre-market, but SPY is breaking the down trend. It’s a little down. This [02:32] is a good area to get into calls. I like the 550s. NVDA had some great news because they’re partnering with NEO. Yeah, this [02:53] would be an area to go long. If this [02:57] breaks, we could see lower prices if I go to the 10-minute time frame. It’s a market trade.

If SPY is down, it can pull the whole market down. This [03:15] is the gap window, technically, that could get filled. On the 10-minute time frame, we could come down to kiss this 50-day simple moving average, which is around the 5, 32, 34 area. We gapped up, fade. This [03:41] is the gap window. I’m going to be watching at the market open for calls, the 550 calls weekly. It just was gapped up, pushed up to this [03:57] big trend area and couldn’t get above it. You can see these are some historical areas of resistance.

Once we gap up above resistance, that previous resistance now becomes support. This [04:23] is a good area for support. If this [04:26] cracks, we can see lower prices. We can fill this gap, this gap window right here [04:32], closed here. There’s a little bit of the gap fill window. Like I said, at the 50, 532, 17 area. Just have to not rush into anything this morning and let the market settle in. We could easily break this [05:00] support and come literally down, all the way back down to 516, technically. You have heard the expression sell the news, buy the rumor, sell the news.

A lot of this [05:20] could be priced in already. Even on the 15-minute, this [05:24] is the area. You would want to go long. NVDA looks [05:32] good. I might start with this [05:34] small starter position and add if it goes lower, get my average price down if it does go lower to here [05:43]. If this [05:44] breaks and keeps going down, I’ll probably set a stop loss around 10, 20%, pretty tight stop loss today.

Let’s go into UBER. I like UBER because there’s some unusual options activity here [06:08] at the 55-strike price on the weekly for the calls. UBER is holding this [06:19] pre-market support from yesterday’s lows. See [06:24] the W, fade hits it, pushes back up. This [06:32] is a good setup from what I’m seeing. If we get a big sell-off day and the indexes like SPY, then we can expect to see every other stock get pulled down with it. Something to be very mindful of and keep an eye on.

Last but not least, I’m looking [07:00] at NEO. NEO’s very strong. It doesn’t even care what the market’s doing. We might pull back to this [07:22] trend line, I think. Let’s go to the five-minute timeframe. I’m going to be watching NEO for any pull back to this [07:46] trend line. Then I’ll be looking to go along with the 60, probably the 65. If it does pull back, then my strike price will be somewhere in here [08:20] where there was that resistance pre-market. I’m going to zero this [08:33] out. There you go. I think for me I’m watching TWTR first and then NEO.

One last stock I wanted to show you, NNDM, Nano Dimension. A lot of volume, okay, in the ten calls. They could be short calls. It could be somebody selling these ten calls. We’re already fading pre-market. If this [09:13] can’t hold, I might just stay away from it. Look at that [09:17] pre-market. It might be something to look out for. We could come all the way back down to this 8.31 area [09:37].

It’s Monday. I’m not going to rush out guns blazing into anything. I’m going to just keep an eye on things and trade accordingly.

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