Trading Stratgies: .SPX, META& MU
Hello everyone! Today i want to share some option strategies with you!
1
$Micron Technology(MU)$ Trade Idea: April 10 390C
Trigger: 368 ✅
Targets: 400 🎯
Stop: 360 🛑
MU got caught in the Google TurboQuant compression algorithm selloff that hammered the entire memory sector.
MU dropped sharply along with SNDK last week. The stock had been holding in the 380s and then flushed hard.
It bounced with the sector on Tuesday and Wednesday on analyst pushback dismissing the TurboQuant threat, with Cantor Fitzgerald calling MU a top pick and Morgan Stanley maintaining a Buy with a $520 price target.
The bounce was real but now we need to see follow through.
If MU can break above 375-380 this week the path to 400+ opens up.
Calls can work above 368 early this week.
2
$Meta Platforms, Inc.(META)$ Trade Idea: April 10 585C
Trigger: 575 ✅
Targets: 594, 610 🎯
Stop: 560 🛑
META needs to clear and hold 580 this week to build any bullish momentum toward 594-610.
Fail at 580 and we could re-test 560.
A break under 560 opens the door back to 540 and eventually 520-500.
The 560 area is now acting as floor. Watch it closely.
I like calls only if we hold 575+ going into Monday.
3
$S&P 500(.SPX)$ TRADE PLAN 📈 📉
SPX bullish plan: SPX above 6600 | SPX Apr 8 6650C 📈
T: 6637, 6700 SL 6570
SPX bearish plan: SPX under 6468 | SPX Apr 8 6400P 📉
T: 6427, 6400 SL 6500
SPX finally snapped its 5-week losing streak, finishing up 3.4% for the week.
The index was trading in the 6,474-6,601 range and closed around 6,582 Thursday (markets closed Friday for Good Friday).
The bounce was real but it came from very oversold levels. SPX had corrected roughly 10% from the January highs.
The key level now is 6,700.
Analysts say SPX needs a weekly close above 6,700 to shift the medium-term outlook from bearish to neutral.
Below 6,700 this is still a countertrend bounce in a downtrend.
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