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dragonflycap · 25 days ago

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4 Trade Ideas for Altria: Bonus Idea

Altria, $MO, comes into the week rounding up out of a pullback with the Bollinger Bands® pointing higher. It has a RSI rising in the bullish zone with the MACD positive and climbing. A Measured Move would give a target to 59.75 on this leg. There is resistance at 55 and 56.50 then 58 before 60 and 63. Support lower is at 53.75 and 52.50. Short interest is low at 1.9%. The stock pays a dividend with an annual yield of 7.41% and has traded ex-dividend since December 26th.

The company is expected to report earnings next on April 29th. The March options chain shows the biggest open interest at the 50 strike on the put side and at 55 and 50 on the call side. In the April chain trading is just starting with little open interest. The June chain is the first to cover the earnings report. It has open interest spread from 55 to 32.50, biggest at 47.50 and 50, on the put side, and from 40 to 60, biggest at 55, on the call side.

Trade Idea 1: Buy the stock on a move over 55.30 with a stop at 52.50.

Trade Idea 2: Buy the stock on a move over 55.30 and add a March 52.50 Put (35 cents) while selling the March 57.50 Call (32 cents).

Trade Idea 3: Buy the April/June 57.50 Call Calendar (95 cents) while selling the June 50 Put (82 cents).

Trade Idea 4: Buy the June 50/57.50/60 Call Spread Risk Reversal (1 cent credit).

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After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which with the February options expiration in the books, saw equity markets show some cracks at the end of the week following a strong open post-holiday.

Elsewhere look for Gold to continue its uptrend while Crude Oil consolidates in a broad range. The US Dollar Index continues to drift to the downside, testing prior breakout levels, while US Treasuries consolidate in their downtrend. The Shanghai Composite looks to continue higher in broad consolidation while Emerging Markets continue a short term uptrend.

The Volatility Index looks to remain low but moving higher, putting some pressure on equity markets. The charts of both the QQQ and SPY look strong on the longer timeframe, but much less so on the shorter timeframe. The IWM continues move in a range under resistance after what now looks like a failed break out in November. Use this information as you prepare for the coming week and trad’em well.

#$MO

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icedhotcocoa · 8 months ago

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okay guys but in all seriousness the trump attempted assassination is going to rally the right like crazy. voter turnout will be going up. it is more crucial than ever that you SHOW UP AND VOTE IN THIS YEARS PRESIDENTIAL ELECTION.

#and also all other elections #local or federal #fucking vote bro #mo talks

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sashamosu46 · 6 months ago

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