Daily Options Portfolio Update – 2020-12-30
Current Long Options Swing Portfolio: $ACB, $DGLY, $FISV, $ON, $SIG, $SNAP, $SRNE
Today was definitely a greener day than yesterday. The following are some of the items of interest from today’s action:
ACB
$ACB had a positive day, working from the 23.6 ret to the 38.2 ext. throughout the day, after being under that channel yesterday. The two hourly segments with the most volume were also the two largest green candles of the day, which bodes well.
FISV
$FISV gapped up, skipping up a resistance level from yesterday’s close, and running in a channel between a 50.0 ret and 61.8 ret, with each serving as support and resistance throughout the day.
The times it did get out of this channel was to the upside, where the 61.8 line served as some support but didn’t hold today. As it never got outside the bottom resistance for more than a minute at a time this bodes well for some more upside.
ON
$ON jumped in the first minutes of trading and kept running between the daily VWAP and the 52-week high, never quite getting there during the day, but getting within pennies of it multiple times.
The VWAP served as support, with the price action staying at or above it all day.
After hours, there were a couple of things of interest. At 8:00, the price was at the 52-week high close (32.60).
But, even of more interest was an extended hours order being filled well above the ask at 33.34, which is well above the 52-week high intraday price of 32.68.
I’m still very bullish on this. I am looking to take profits off the board on this one and will look to re-enter it on a pullback for its continuing momentum run up.
SIG
$SIG is back over the 61.8 ext/38.2 ret, testing it once in the 2nd half of the day, bounced, and went sideways in the middle of the track the rest of the day. I am looking for it to hold that line as support.
The next key resistance is the round number of 28.00. It pushed against it multiple times throughout the day and was rejected. Once it gets through there, the next strong line of resistance is at the 61.8 ret. at 29.10.