Momo Market Roundup, 1/7/2021 — AMZN Flush and More Fun on a Whipsaw Day 

 January 10, 2022

By  spectre_trades

Anyone have whiplash? SPY continued to tick downward on the smaller timeframes, never reclaiming the level above. Each test was either bought up or sold off. SPY calls off the 465 level into the 468 level yielded nice results.

465 calls went from $1.30 to a high of $3.20. You could also have played the downside on the morning double top from the premarket highs. The 468 puts went from $1 all the way up to $3.50.

Several Big TSLA Shorts

Tesla (TSLA) offered some excellent range, as well as a nice short opportunity off the 1080 double top from premarket. It continues to follow SPY, only amplified. You could have grabbed the 1080 puts for $12-13 and seen them go as high as $70.

At one point I shouted out "1020 puts for two bucks looking for an end-of-day flush risking 100%!" If you had sized appropriately on a $25k account, might have taken six contracts and watched them 7x in value. You're welcome, team.

BABA Gap-Up Fail

Alibaba (BABA) gapped up and failed at the 132 level. If you didn't go short right away you could have taken it on the retest and grabbed the 132 puts for $1. The peaked at $3 at the low point of the day.

AMZN Takes a Dump

Amazon (AMZN) saw some nice movement in the morning in step with the market, but quickly gave it up at the 3300 watchlist level and flushed 50 points. Nice ... the 3300 puts went from $18 to as high as $50. Wow. 

NFTs Fail to Save GME

Gamestop (GME) popped and dropped on a nice gap up reversal. I guess NFTs aren't that exciting after all. If you grabbed 150 puts on the VWAP fail for around $3-4, they went as high as $14 at our 135 watchlist level. Not a bad way to spend a Friday.

Member Trade of the Day

I don't normally like to do screen shots, but it was an amazing day with members putting together the skills they have learned.  If you're not there yet, with patience and tenacity you can.  What a great way to start the year.


Momentum Trader. Technical Chart Analyst. Always on the hunt for 3x or better reward to risk.

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