Pre-market Live and Options Picks for 01 26 2021

Let’s get right into today’s charts, and I’ll show you a little bit of what I’m looking at for today. We’ve got just two stocks that are on my watch for today, one of them being. There’s just so many good trades. It’s difficult, I must say. BYND, for example, look at this. We went from 140 to currently 207, almost 100%. I was looking at some unusual options activity in BYND Friday. This is Monday. BYND just looks so stretched [01:58], 225 was my target. There really isn’t that much room left to go.

We’ve still got a half an hour before the market opens. Look at this RSI. It’s almost at 100. Last time it got to 100, we had this pull back to the 80 and then another push back up. It might do something like that. I might wait for a pullback to run this 80 RSI on BYND, and then get the 210-strike price, this week’s expiration. This is just day trade for me, guys. I don’t know if I really want to hold this name for the rest of the week. Feel free to if you want. I have no qualms if you do if you don’t. BYND, I’m going to be waiting for a little bit of a pull back for a better entry. Hopefully, we can stay below that 210 because that is the highest strike price we have on this stock for this week’s expiration.

I like buying calls out of the money not in the money. You don’t get the returns that you do with out of the money calls. Honestly, this stock is so gone. I don’t even want to trade it unless it does come all the way back, maybe 50% retrace. I’m just not chasing it up here [03:36] even if it does go to 225, 250. What are we up, 35% up pre-market. That is nice. Then the other one was overstock. OSTK, I believe, is the ticker. A lot of nice call volume in the 80-strike price. I like this as a trade, nice burst at the open, possibly. I like the stochastic. Yeah, why not. I’ll be keeping an eye out for the RSI, kiss the 80 or go above it. Usually, I get out at the 80. I don’t really hold for this extra nine points.

You can see here [05:09] it turned around. It turned around. It turned around. More often times than not, you’re not going to get this [05:25] much over bot conditions. Don’t be holding for it because then it can come right back down. Give up 60% of your gains. Close it for 40% profit where it was maybe, say, 100, 200%, perhaps. You never know. Honestly, I feel like BYND is out of the cards for me. I’m probably not going to touch it. Where is it at? It’s already at 216. Yeah, 225 was my target. It’s right there [06:00], amazing. I guess we could get a burst at the open, but like I said, the highest strike price was 210.

ETSY I was looking at. Some people were making some jokes in the Slack about some tweet about Elon Musk. I was looking at the technicals. I was looking at the options chain. I’ll have to wait for a good entry on ETSY. That’s [07:33] quite the gap up. They have this big gap window to fill. I just need a better entry on these things. I just can’t rush into any of this. I’ll keep an eye on everything guys.

So far, I like OSTK for a first morning trade. Should be good. Don’t load the boat. Get a nice push back to the 80, maybe a retest, and then a second push possibly to the 85. I mean, sometimes I’ll do stuff like this [08:14] just to give you an idea of what I’m thinking about, yeah, 86. While I’ve got you guys on here, let’s take a look real quick at the options chain on ETSY. Strike near 85. This week would be January 29th, 85, all right, there [09:14] it is. I do a combination of both. It’s not always just the options chain. You never know with options chain. Those could be short calls. They could be selling those calls at 85 strike price because they don’t think they can make it. Those are usually bigger institution sellers doing short calls.

I do a combination of technical analysis, charts, historical charts. These are my three favorite indicators besides my lines is the 50-day simple moving average, the RSI, and the stochastic measure. I usually keep things on the five-minute time frame. That’s what works for me. I held some of my FUBO. I think that’s up about 106% since Friday. AMC is kicking me in the teeth. BB is kicking me in the teeth. CRSR is kicking me a little. It’s not that much, 16%. CCIV is up 17% since yesterday. I like everything I’m in.

Also, in my other account, I’m in Disney, GE, AAPL. I’m going to close my position out of the open. That’s just me guys. You do what you want. I’m going to sell the spike because I just don’t know. We could get a pull back all the way to fill the gap. We could go to all-time highs with GE. All I know is I’m going to take the money, and I’m going to run for the hills.

I want to look at one last thing, GE. I just want to see what some of the open interest is. The 12 is pretty high. It’s at 12.02. We also have a lot of open entries at this 12.50. Even 13, then it starts to die down, starts to die off, 15. Twelve-fifty could be in the cards, even 13 could be in the cards this week. It’s up to you. It’s at 12.

I’m probably going to cut them. It’s less risk for me on the table. I don’t like selling half of my position and letting the other half run. It’s never been my thing, not my style. You can if you want. I just don’t like to have that mental overhead of having to check back on a stock. I’ll forget. Next thing you know, you’ve got too many positions. You can’t focus.

I’m going to just close out my entire position on GE. I’ll be probably up 100, 200%, and live to trade another day. I’m not greedy. I don’t need that extra. I don’t need to catch the perfect bottom, or the perfect top of any stock. I just want to catch the meat of the move. This, my friends, is called the meat of the move.

I’m holding my AMC until Friday. That’s me. That’s my risk. Figure out what you want to do with your AMC. I could either be right, or I could be wrong.

The course is coming out, hopefully, but the end of this month. I’m having my graphic designer work on some of the last-minute slides. Then I will probably break it up into two or three videos that I have to record. It’s 90% done.

Good luck today. Let’s have a great day. God bless.

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