The following are the notable earnings for this week:
TSN – earnings will be released on Aug 5, before open. Tyson Foods, Inc closed at 61.23 last August 2, 2024. I am quite bullish on the consumer non-durables sector and technically speaking the chart tries to break out of the 62 resistance level. A good earning report and strong guidance could drive the stock price to 65-68 level. I’d like to check the 65 call contracts.
PLTR – earnings will be released on Aug 5, after close. Palantir closed at 24.74 last August 2, 2024. If the margin of this stock will not improve we could see a possible further sell off of this stock. The AI capex is a question here and this company needs a strong guidance as well. I’d like to trade this to the downside all the way to 20 level. I will check the price of the 20 put contracts.
CAT – earnings will be released on Aug 6, before open. Caterpillar closed at 320.87 last August 2, 2024. If this is a miss, this stock could trade between 290-300 levels. A weak guidance for the next quarter will be a factor too. Let’s check out the 280 290 put contract premium.
SHOP – earnings will be released on Aug 7, before market. We are bearish in AMZN from last earning so the sentiment for Shopify will follow. Temu is getting popular among the consumer and this will surely hurt SHOP earnings. I’d like to see the 45 42 40 put premium contracts and see if these strikes will print.
ELF – earnings will be released on Aug 8, after close. Elf Beauty Inc. has been good to us every earnings and I’d like to see this stock trade to the upside again. I’ll be checking the 180 190 call premium contracts.
Other Related Play:
NVDA – We scoop some NVDA shares that was filled at 107.00 and we will continue to keep buying using profit from options trading. If NVDA 100 psychological price level will hold, this might consolidate at 100-110 level before this trade to the upside again.
TSLA – If Tesla snaps at 200, we will continue to trade this to the downside.
META – We’d love to see Meta fill the gap at 400 in the weeks to come.
Nothing is guaranteed here. Stocks mentioned above could trade opposite or sideways depending on the earnings outcome.