Earlier this week, Scott Bauer outlined an example trade for Spotify (SPOT) on the Schwab Network’s Big 3.
If you caught the full segment, you probably saw him cover another trade idea for Uber (UBER) — and if you took it, you’d potentially be in a good spot right now.
Scott said he would sell a bullish iron condor for UBER:
- Sell this week’s $72/$68 put spread
- Sell this week’s $79/$83 call spread
- $2 credit
This morning, he closed half of his position at 75 cents — netting a 62% return!
Scott recorded this video breaking down his UBER trade idea, and how he would handle the remaining balance going forward:
While he’s seeing how the rest of his UBER trade idea plays out, Scott is setting his sights on another tech name — Advanced Micro Devices (AMD) — which soared today off a huge earnings report, climbing over 18%.
Scott was back on the Schwab Network, where he outlined another example trade for AMD. He discussed AMD’s big earnings results, and how he would consider trading the stock — using a similar framework as his UBER trade idea:
The analysis, insights, and strategies shared by Prosper Trading Academy’s coaches in Prosper Insider are strictly for educational and informational purposes only. All content reflects the personal opinions of the coaches and should not be construed as specific investment advice or recommendations. Any examples discussed are illustrative in nature and do not represent actual live trade signals or instructions to buy or sell securities. Trading involves risk, and individuals should carefully evaluate their own financial situation before making investment decisions.
Scott covers:
- Where resistance turned into support for UBER
- Why he wasn’t looking for a big upside move in UBER
- Leveraging time decay (Theta) in the remainder of his UBER trade idea
- Difficulties trading AMD at an all-time high
- His thoughts on AMD’s trading ranges
- What he needs to see AMD do before considering its next move
