5/30: SQ – Over $57.84, consider shorting Jun (6/15) $54/49 bull put credit spread for a limit of $.63/share (closed at $.73/share). Breakout from bullish consolidation to all-time highs daily and weekly. Stop Loss: $53.65.
5/30: INTU – Over $198.35, consider buying stock and shorting Jun (6/15) $200 calls (i.e., covered call) for mid-point (short calls closed at $2.15/share so good premium to lower cost basis). Bullish 2-day consolidation in top range of +WRB Breakout to all-time highs daily and weekly. Stop Loss: $187.20 for now.
5/30: ROKU – Consider shorting Jul (7/20) $33/28 bull put credit spread (51 DTE) for a limit of closing mid-point of $.80/share. Breakout from multi-month consolidation daily and weekly, monthly 50% retracement after recent IPO and bullish engulfing. Stop Loss: $33.48. Note: extended daily so another option is to only do half lot and try to get price improvement back half on retracement.
5/30: CRM – Over 30-Min. high, consider shorting Jun (6/15) $125/120 bull put credit spread for a limit of $.50/share. Earnings Breakout to all-time highs with strong uptrend weekly and r20/50-MA. Stop Loss: $124.57.
LB – Gapping over high of last two days, will watch for income and directional trades:
