Trading Options: CRWD and RKT
One faces rejection while the other is finding new life.
Every week I provide my two stock picks for WOLF Financial’s Monday Space over on X. This is one of the longest running spaces out there and it is full of great traders.
I have managed to “make the podium” more times than not and took down first place last week with HOOD and PLTR.
If you missed the HOOD trade idea, check it out here.
There is a great short trade for AMD in there as well. Set up to reject and give a significant pull back.
This week’s trades have just as much potential and again I am considering one long, and one short.
That said, any of these trades can break in the opposite direction which is why a stop loss is a must.
RKT
We are revisiting RKT for the long trade in this week’s competition and I like it for an options trade as well. It’s a nice set up for a continuation higher.
Long lower wicks highlight the buyers stepping in and they have been following through in the recent lows that have formed.
The lower lows are not exciting but I think another run at 15.80 is in order and I know exactly how I want to trade it.
This will be a quick trade with much nearer term expiration for the options.
CRWD
This is a really clean set up with a easily defined stop loss for the short trade. The top of the channel should reject, which is also where the 50-day simple moving average (SMA) shows up.
I like a return to lower prices for CRWD in the near term and that will be the trade I am looking at for some downside profits. Looking to retest the anchored volume weighted average price (AVWAP) from the August 2024 low.
And there will be more trade ideas coming later this week, including options trades for TSLA and AAPL.
Now let’s get to the plan, price targets, and options contracts I am considering for RKT and CRWD.
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