SPY at the top of the $438-$442 range.
QQQ have key support level at $365.
Today I am looking at PAAS ( Pan American Silver ) – It has been slowly moving downward due to the decrease in Sliver prices
the past couple of months but loos like it has bottomed out here in the near term . If the market opens up tomorrow with the price 26.50 or higher i will be looking to do an Iron Condor expiring Sept 17.I will be looking to STO the 27 put and BTO 22 put and STO 29 BTO 30 call expires Sept 17. I should be able to collect at least $1.35 credit if the price has not deviated too far overnight. With this trade i have no risk to the upside if stock closes higher than our 30 strike. My maximum profit will be .35 cents which would result in a 5% return on my margin .If the stock closes between 27 and 29 on Sept 17 , I will keep the entire premium . Our breakeven on the trade is approx. $25.65 if i collect the $1.35 on the original trade . My margin on the trade is $500.00 so my max risk would be $365 loss potentially . In 2021 the price has stayed above that level so I am anticipating it to continue to stay above that level with our indicators on the daily looking bullish again
$CAT (Caterpillar Inc.) recently reported impressive 152% YoY earnings growth in their 2nd Qtr report along with 29% YoY growth in revenue. The stock touched around the support level of 206 recently and poised to cross the 20EMA and 50 EMA in the next few days on the back of positive sentiment in the investors’ mind based on strong demand in their core products. With the economy further opening up and new Infrastructure focus announced by the US Government, there is possibility of further growth. Market Indices are up near record high on Tuesday and I’d be looking forward for the stock to short and medium term break out crossing 150 EMA and 50 EMA subsequently to the level of 220 or higher.
On the other hand, technically the stock is below the 150 EMA mark and could lose further ground on profit booking and short term correction below 200 support level to 180 or around.