SummitWealth

Investor / Option Trader. I hope to share knowledge that can help others become more finanacially educated. My tweets are ideas, not financial advice.

[SummitWealth @Summit_Options]

Nearly two years ago I was laid off. Not surprised as the economy was contracting. However I felt at a crossroads with my purpose. We always feel a little imposter syndrome but we have to try things we love.

I knew I’ve always wanted to help others with navigating investing.

[SummitWealth @Summit_Options]

I think part of the challenge here is that competition has increased. Sneaker demand is not where it was; shoes are not selling out, competition has increased, with countless other fitness brands that are considered more fashionable or popular. So I think in retail, Nike has fallen behind. I think when they are pricing in Nike's future its possible that they are seeing more competition that affects Nike's revenues.

[SummitWealth @Summit_Options]

@Mira__Kohli It really is - taking profit when the time is right and knowing when to cut losers when they are wrong - two of the most challenging skills in trading.

[SummitWealth @Summit_Options]

Make sure you take profit when it hits your target and never let a green take go deep red.

$3k was made on this trade. What are you guys eyeing to trade next week?

[SummitWealth @Summit_Options]

Trim some if you took this trade.

1/4th at $6.05

[SummitWealth @Summit_Options]

**Trade Idea Aug 14 - $NBIS Long Call**

Buy to Open Aug 28 300c
Cost: 13.90

It appears the strength in $NBIS is not subsiding just yet, even with the Michael Burry short position news. Call flow is showing positions were opened for a $370 strike in September. If that comes to fruition, that is an incredibly large move.

On the daily chart we have NBIS breaking yesterdays top wick.

Targets: $290, $290 and $300 (all time high).

[SummitWealth @Summit_Options]

Update: I had rolled this position into an Aug 21st expiry. We're right on the cusp. I believe in AMD as an investment.

I rarely will close my bullput credit spreads - I often roll them forward unless a stock drops big such as TSLA. This is the risk of holding through earnings.

It's often safer to close or have them expire before earnings. But I am comfortable rolling forward if necessary but trade with your own comfort and risk profile in mind. Never let a trade stress you out.

#TradingTips

[SummitWealth @Summit_Options]

Trade Idea $AMD

Strategy: Bull Put Credit Spread

Sell to Open $AMD 500p Aug 7 26
Buy to Open $AMD 490p Aug 7 26

Credit: $3.23

[SummitWealth @Summit_Options]

Trim some if you took this trade.

1/4th at $6.05

[SummitWealth @Summit_Options]

**Trade Alert (Risky) $SPCX **

Buy to Open $SPCX Aug 21 145c

$SPCX has had a lot of momentum lately, and it just broke out on the daily timeframe, so it has the potential to run this week.

Have a stop loss in place as this is a naked long call. Target 1 - $143 Target 2 - $145

#trading #investing

[SummitWealth @Summit_Options]

**Trade Alert (Risky) $SPCX **

Buy to Open $SPCX Aug 21 145c

$SPCX has had a lot of momentum lately, and it just broke out on the daily timeframe, so it has the potential to run this week.

Have a stop loss in place as this is a naked long call. Target 1 - $143 Target 2 - $145

#trading #investing

[SummitWealth @Summit_Options]

**Trade Alert $AMD 💡**

Strategy: Bull Put Credit Spread

Sell to Open 440p $AMD Sep 4 26
Buy to Open 420p $AMD Sep 4 26

Credit $3.78

AMD has been putting in higher lows on the daily time frame since bottoming from the earnings sell-off. Looks strong, and I believe it should continue to hold, especially if it can break $500 again.

#trading #investing #options #amd

[SummitWealth @Summit_Options]

There was news that $GOOGL AI chief is leaving the company, causing the stock to fall. Let's see if it gets bought back up over the next couple of sessions. Don't chase profit; let a setup form. #investing #trading

[SummitWealth @Summit_Options]

**Trade Idea $GOOGL**

Buy to Open $GOOGL 385c Aug 14
Cost: 6.95

Stop Loss: Under 374 if $GOOGL fails to hold I'd cut the trade

Google's had some great strength after rebounding from 350 post earnings and while the market rebound has helped it as well. It looks poised to continue momentum. I think it's got a good shot to hit 385 in the coming days and potentially move back to 400

[SummitWealth @Summit_Options]

**Trade Idea $GOOGL**

Buy to Open $GOOGL 385c Aug 14
Cost: 6.95

Stop Loss: Under 374 if $GOOGL fails to hold I'd cut the trade

Google's had some great strength after rebounding from 350 post earnings and while the market rebound has helped it as well. It looks poised to continue momentum. I think it's got a good shot to hit 385 in the coming days and potentially move back to 400

[SummitWealth @Summit_Options]

Trade Idea $AMD

Strategy: Bull Put Credit Spread

Sell to Open $AMD 500p Aug 7 26
Buy to Open $AMD 490p Aug 7 26

Credit: $3.23

[SummitWealth @Summit_Options]

Been a little while for a trade idea - market has been volatile and hard to recommend something of high confidence during those times.

Half of trading is knowing when to deploy funds vs not.

But I've got a trade idea for today $AMD

[SummitWealth @Summit_Options]

We got a little bounce close to the open, if $SPX fails to hold this bounce, I would close these. We need to hold 7500.

If we get a decent bounce and you can sell bear calls for .70 or more I would do this to hedge

Sell to Open: $SPX 7560c
Buy to Open $SPX 7570c

[SummitWealth @Summit_Options]

** 0DTE Trade Idea $SPX **

Strategy: Bull Put Credit Spread

Sell to Open: $SPX 7480p
Buy to Open: $SPX 7470p

Credit: $0.95

You can sell up to 7495, 7500 as the support to aim for around $1 credit. I believe selling for less than .70 credit does not make the risk worthwhile

[SummitWealth @Summit_Options]

** 0DTE Trade Idea $SPX **

Strategy: Bull Put Credit Spread

Sell to Open: $SPX 7480p
Buy to Open: $SPX 7470p

Credit: $0.95

You can sell up to 7495, 7500 as the support to aim for around $1 credit. I believe selling for less than .70 credit does not make the risk worthwhile

[SummitWealth @Summit_Options]

**0DTE Trade Idea - $SPX**

Bull Put Credit Spread

Sell to Open $SPX 7260p
Buy to Open $SPX 7250p

Credit 1.10

Stop 1.80

[SummitWealth @Summit_Options]

**Trade Idea - 0DTE Credit Spread**

Sell to Open $SPX 7560p
Buy to Open $SPX 7555p

Credit 1.30

Stop: If LOD breaks, then close the trade.

So we have an opening LOD of 7562, and we almost tested that level. Somewhat creating a double bottom. If we hold this low, the trade remains valid, but otherwise it should be closed.

[SummitWealth @Summit_Options]

**Trade Idea 💡$SPX 0DTE Credit Spread**

Sell to Open 7555p
Buy to Open 7545p

Credit 1.05
Stop 1.70

[SummitWealth @Summit_Options]

**Trade Ideas 💡 $META, $MU**

Buy to Open $META 650c 6/5
🎯: 640, 643, 650

Buy to Open $MU 1125c 6/5
🎯: 950, 965, 985, 1000

Manage according to your risk apetite

[SummitWealth @Summit_Options]

The weeklies expiring this week are above 50% profit. I don't see a risk in $TSLA falling $30. I will hold this position, expecting full profit.

Still holding next week's expiry as well

[SummitWealth @Summit_Options]

**Trade Idea 💡 $TSLA **

Strategy: Bull Put Credit Spread

Expiry May 29
Sell to Open 405p
Buy to Open 395p
Credit .47

10 will require 4530 in margin but can net $470 in 4 days which is around 10% return in short time.

Expiry Jun 18
Sell to Open 405p
Buy to Open 295p
Credit: 2.48

$TSLA has finally broken through the 430 area that has been resistance, this gives me confidence that we will hold higher lows for the weeks to come which makes me comfortable selling bull puts on TSLA for some credit.