*What direction to buy this EIX stock or weekly option next week? Look at big picture or EIX weekly chart, last 8 years has been in a bullish trend, with noted Elliot Impulse Wave (12345) noted on chart. This chart, PA has been sitting at $80.00 (resistance) for last 6 weeks. RSI has been overbought & just turned down. On EIX monthly chart, major support is around $58.00 (blue line), that would be a $20 drop if PA hits that by end of 2017. I will be doing put option set up for this
Monday's earning report, related to last 8 earning's reports being pretty much 50% negative & 50% positive. Will put more weight on last 4 earnings reports, which are 3/1 to negative side. *Example of a possible options trading order would be a weekly call at $81 & put at $79 ($2 spread), at end of next week one would be OTM & one would be ITM and would cover your losses. You would need to look at weekly options for this stock and figure out what works for you.Read more about options if you are interested. Always let your profits run and cut your losses in all trading. Good Luck always.
Monday's earning report, related to last 8 earning's reports being pretty much 50% negative & 50% positive. Will put more weight on last 4 earnings reports, which are 3/1 to negative side. *Example of a possible options trading order would be a weekly call at $81 & put at $79 ($2 spread), at end of next week one would be OTM & one would be ITM and would cover your losses. You would need to look at weekly options for this stock and figure out what works for you.Read more about options if you are interested. Always let your profits run and cut your losses in all trading. Good Luck always.