QCOM Trade on Nov 5, 2020 15:43 from Marius: Tradervue User Stock Trades.

Markets continue to make strong moves in the current uptrend momentum. FOMC left rates remained unchanged and willing to use more tools if needed and states recovery may be at half way at best. Economic reports today continue to show improvement.

QCOM reported better than expected earnings. Raised revenue guidance by 15% and EPS 30%. Also mentioned about the 5g expansion and new growth in the business model with partnered companies like AAPL. Bullish overall with the current strong market tailwind along the strong SMH and XLK sectors.

Intraday Fundamentals

RVOL 3.487
AVOL 8.004
ATR 4.42
Short Float 1.97%
Inst Own 77.80%
Market Cap 168.16B

Options Metrics

SI 5.046
IV 39.99%
IVP 20%
P/C Ratio 0.469
VWAP 145.74

Noting the heavy call side transaction activity.

Options Position Metrics

OI 1,269
Vol 1,923
Delta -.01
Theta -.04
Vega .00
Gamma .00

Positioned OTM with high OI area.

Tape Reading

Noting the heavy call buying in the AM session. Some put buying as well but not as large as the calls.

Watching the tape into the close and looking for any aggressive direction seeing that it was trading flat under VWAP. Notable buying and lifting of offers.

Technical Analysis

Noting the sell-off at the open and rip with aggressive buying. 144.75 will be a key inflection level. 142 is a secondary level which crosses with avwap from the start of the move. 61.8% retrace of the move is 136 and where I'd be looking to have to make a trade decision to mitigate risks and or take profits.

Trade Review

Markets opened with better data from the monthly jobs reports and technically at a level to see some exhaustion from the buyers after the strong v-shape move from the beginning of the month. No indication of a reversal yet and will have to see how news flow and markets digest over the weekend into next week.

Options expired worthless with QCOM holding y levels. This is very bullish with consolidation and finding buyers at the gap up.

The strike area seemed fine for my development and trade thesis. Trade was managed good and currently can't see how I could have made more on this idea besides adding more size. Definitely something looking forward to but keeping in mind the process and just the grind of doing the work and getting better everyday. "One Good Trade & Then One Good Trade" Time is on a traders side but still have to be critical with reviews and development.