jay_beckner

I play poker and trade options, seeking edges from study, reflection and analytics.

#002 YNDX Calls

Trade Details: Bought to open 5 Sep 16th Yandex N.V. (NASDAQ:YNDX) 21 calls for $1.20, $607.65 total cost (94.9% of account), 46 days to go. The trade executed at 12:57:21 when the stock was approximately $21.10.

Potential: Unlimited, but targeting the $27.03 level to exit with $6+ intrinsic value. A stop loss is prudent if the stock breaks through secondary uptrend support (see chart below).

Trend-Based Fibonacci Extension connecting Jan and Jun 2016 lows to Jun high.

Trend-Based Fibonacci Extension connecting Jan and Jun 2016 lows to Jun high.

Thesis: I have been tracking this story for a few years. The company recently overcame its Alphabet/Google competition overhang and increased earnings visibility by buying its corporate HQ (which coincided with 2016 stock lows). YNDX has been trending beautifully this year but ran into resistance at $23.18 in recent weeks, 3 times. Simultaneously, it's putting in higher lows and forming an ascending triangle on the daily chart (above). The last two candles indicate buyers are re-entering the market. Earlier today, a trader bought to open, where there was previously zero open interest, 400 Sep 16th 21 calls for $1.60; I'm happy to follow her in here and for 25% less premium! I'll need to keep my overconfidence in check on this one.

#002 YNDX Calls Closed Profit

#001 FIT Call Spread Assigned