Looks like TAP (Molson Coors Beverage Co Class B) is ready to form the bottom and bounce back. If you look up the whole sector of beverages stocks, they show similar characteristics, including BUD and KO.
I decided to go with TAP because it has better value and greater upside potential.
As of today I am long on Call option May 22 with strike at $39.5 for 0.58 cents per contract.
price didn't go nowhere today, but got nicely compressed .....I have that feeling that Market will gap up tomorrow for option expiration day (there is still a lot of bearish sentiment and shorts around)... May 22nd contracts were not cheap at $0.58 and $0.56, so I expect some action here ..... However, on charts TAP stock can go in either direction......
ReplyDeleteP.s. Uber missed earning big time and went on rocket ride in after hours .....Go figure.. :) .... In Market only charts don't lie and are easy to understand, rest is hype, smoke screen and , bull shit ...LOL ............Let's go TAP on this rocket ride :)
ReplyDeleteYesterday before closing I bought 3 calls contracts long on ADM with average price @ $ 0.40.... I couldn't ad new post because charts were already displaying different price...
ReplyDeleteTAP started to move in right direction and closed at $38.89 and May 22nd 39.5 calls were going for $0.78 @37% profit
ReplyDeleteAMD also moved to the upside and closed at $36.39 and May22nd $36.5 calls went up about 70% to $0.69 cents per contract. Hopefully on Monday will be continuation of the trend to the upside.
this morning TAP after gaping down and going as low as 38.25 , around !0-10:30 am it started to go up again....strangely, value of Call options for May22nd @ $39.50 held value pretty steady without much change
ReplyDeleteTAP closed today at $38.54 below Friday close, day volume was low, there were not too many buyers nor sellers .....
ReplyDeleteHeineken and Carlsberg look oversold too and ready to bounce...There is not much institutional interest with TAP stock but sooner or later shorts will be squeezed, because they don't like to pay dividends and market also is trending up this morning...
ReplyDeleteTAP call options were another loser position .. :( I guess people prefer to smoke weed these days than get drunk.
ReplyDelete