ISRG LONG with options play as well for weekly 9/18 option.
1. MONTHLY: BUY ZONE; Fibonacci shows barely broke above 0.382 level ($730) and next stop is $970. Could see some resistance at $730 level. THEREFORE, BULLISH in BUY ZONE with possible pullback to $688 at current fib level OR push past to $970.
2. DAILY: BUY ZONE; At a counter-trend line so great time to enter. Support at $688 and should reach $731. If breaks 731, will eventually go to $970. THEREFORE, BUY ZONE at RIGHT TIME TO BUY.
IDEA for 9/17/20: short unhedged ATM straddle. Will sell 1 short ATM call and sell 1 short ATM put. This bought/held from Thursday to friday has won 6 of last 7 weeks w/ historical avg return of about 50%. Expecting that the bullish action expected should make this a winning trade this week as well.
2. DAILY: BUY ZONE; At a counter-trend line so great time to enter. Support at $688 and should reach $731. If breaks 731, will eventually go to $970. THEREFORE, BUY ZONE at RIGHT TIME TO BUY.
IDEA for 9/17/20: short unhedged ATM straddle. Will sell 1 short ATM call and sell 1 short ATM put. This bought/held from Thursday to friday has won 6 of last 7 weeks w/ historical avg return of about 50%. Expecting that the bullish action expected should make this a winning trade this week as well.
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