HOT list

I am going to do something a little different today and will continue this way so you can see what I am actively in vs. what I am looking to trade. I am going to post my current open positions in one post and then the possible trades in another post.

Current positions -

I only have 4 positions open currently 3 Bear Call Credit Spreads and 1 Bull Put Credit Spread. Expiration on all these Feb trades is in 19 days.

BEAR CALLS

CVTX - FEB 30/35 Calls for .70 credit - opened trade on 12/22

AT 26.08 with MACD already positive Stoch making another turn upward. The stock rose very quickly through all 3 daily moving averages I use - 30,50 and 200dma. It did not reach the weak resistance at $27 and then fell very quickly to then bounce off the 50dma and rise quickly again on Friday. It now rests about .90 below resistance.
The stock will have to break this resistance and then rise over 10% as well as break the 52 week resistance at $30 to become a losing trade.

PLCE - FEB 50/55 Calls for .80 credit - opened trade on 1/6

AT 45.09 with MACD turning positive but Stoch looks to be making a turn to the downside again. This stock just bounced of the trendline resistance in the bear channel this stock is in. It closed above the 200dma. So now this stock may be pinched between the two. We shall see what happens on Monday to determine which direction this stock will go. I believe it will continue down below the 200 dma heading towards the channels support line at around $40.

AMZN - FEB 50/55 Calls for .60 credit - opened trade on 1/12

At 45.22 with MACD and Stoch on the rise. The 52 week high is $50 and the stock has to go through the 30dma and the 50 dma as well as rise almost 10% in the next 3 weeks and penetrate the 52 week high in order to have a losing trade.

BULL PUT

OEX FEB 555/560 Puts for .70 credit - opened trade on 1/24

At 580.80 with MACD and Stoch both starting to rise. This index and the market in general has made big gains the last couple of trading days. This index will have to break the strong long term support of $570 and drop through the 200 dma to make for a losing trade.

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