Sunday Prep

New week ahead, I am prepped for Monday. I'm wondering if later down the line I should start planning the entire week, so that I have a list of trades where all I have to do is wait for the set up. In the meantime, I will stick to Monday only.

Yesterday I said I'd be looking into XLY, $TSLA to be specific. Overnight trading is already up by $1 which is not much, but I just wanted to check. I also did mention that I'd look at other options. I think I may have found a put, while I may not necessarily take it, I still want to use the same logic I applied for TSLA.

Starbucks (SBUX)

I can see the beginning of a downtrend. It's honestly a tricky one, I say this because we see the downtrend a similar downtrend in April 17-20 but then see a recovery from April 21-22. If tomorrow SBUX closes lower than April 24, then we can say it is a good entry for a put.

I will say that this is more a guesstimate giving that I can't find a solid similar comparison to back test. Either way, I performed the volume + price change analysis.

So, we can see that there was a higher volume of shares being traded, but the price has decreased instead.

I find it interesting that this is slightly the opposite of TSLA. When looking at that analysis, the volume traded decreased and the price increased. In the SBUX put analysis set up, the volume of shares traded increased by almost 5.5M. While the percentage price looks like a big change, it is important to note that the ATR for SBUX is less than $1 – this explains why the "drastic" change number"

Final thoughts

I'm not sure if this will work, again, doing almost the same setup, except for the put I looked at SBUX, which is within the same ETF as TSLA. I am using the same method as I did in the past for VIST. However, I am looking for more precision so the trading volume and change in price were the newer technical integrations.

I'll see what tomorrow has in store for SBUX.