Thursday, June 4, 2020

Thurs 04 June 2020 Morning Notes

I've gone from the unofficial Straddle King to the unofficial Ratio King. To be fair, I view every option trade as a variation of a straddle, so the ratios in my opinion really aren't that different from a straddle. I suppose a straddle traded differently? I put on the weekly CRWD 105/110 1x2 call ratio for even money. I'm bullish, but didn't think it would rip through 115 by opex and expect IV to come in.

Had a field day trading PPC and TSN off the PPC indictment news. I *live* for that shit. However, I wasn't able to play it as cleanly as I would have liked, but whatever. I still stand to make some good coin coming out of it.

Earnings: Yesterday AMC: CLDR; CMTL, ESTC, SMAR, ZUO

Other News: SCHW and AMTD both popping after DOJ clears antitrust investigation into their proposed merger;

Follow Through Names to Watch: PPC, TSN, CRWD, AMBA, GOOS

ZUO: +20% at 15.07;
EBAY: +10% at 51 on guidance;
ATSG: +10% AT 23.35 on contract award with AMZN; 
BA: +5% at 182, after ripping +10% y'day;

SMAR: -19% at 47.75;
CLDR: -11% at 11.06;


Follow through watch:

Day before Y'day AMC: AMBA, CRWD, ZM; HQY
Yesterday BMO: AEO, CPB, GOOS;

 Y'day Other News: CRWD: +9% at 101;  AEO: +9% at 11.25;  CAKE: +8% at 22.70 on guidance; MCHP: +6% at 102.5 on guidance; HQY: -7% at 58.10; MCHP pops on guidance; TIF dropped toward EOD on rumor of LVMH deal not going through; During mkt hours, PPC and TSN both dropped on report of PPC exec being indicted for price fixing.

2 days ago AMC: 
2 days ago BMO: DKS; BZUN

2 Day Old News: MGI: +46% at 3.77 on WU interest; WU: +13% at 23.40 on MGI interest;  RH: +9% at 232.50;

TT Track of the Day: Stumbled across this tech house set thanks to YouTube algos.. and it's solid! Boris Brejcha & Art of Minimal Techno Favourites

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