Weekly Trade Ideas: Oct 26 to 30
$MU Oct 28 800P
Watch: 853 β
Targets: 821, 734 π―
$SMH Nov 27 550C
Trigger: 525 β
Targets: 538, 550 π― Stop: 515 π
$SMH Nov 6 500P
Trigger: under 525 β
Targets: 515, 500 π― Stop: 527 π
$QQQ Oct 28 695P
Trigger: under 700 β
Targets: 695, 693 π― Stop: 705 π
$SPX Oct 28 7750C
Trigger: above 7700 β
Targets: 7750, 7772 π― Stop: 7669 π
$SPX Oct 28 7570P
Trigger: under 7620 β
Target: 7570 π― Stop: 7650 π
Full plans on each ticker's card.
Options carry risk of loss. Not financial advice.
$QQQ Trade Idea: Oct 28 695P
Trigger: under 700 β
Targets: 695, 693 π―
Stop: 705 π
$QQQ had a very volatile week.
It moved from 707 on October 16th to 727, then back down to 701 by Friday.
If QQQ gives up 700 this week after Tech earnings and FOMC, it can drop to 693, 685 next.
Puts can work under 700.
If QQQ gives up 685, it can drop to 661.
The setup I'm watching.
Options carry risk of loss. Not financial advice.
$SPX Trade Ideas: Oct 28 7750C and Oct 28 7570P
BULLISH: Oct 28 7750C
Trigger: above 7700 β
Targets: 7750, 7772 π―
Stop: 7669 π
BEARISH: Oct 28 7570P
Trigger: under 7620 β
Target: 7570 π―
Stop: 7650 π
$SPX dropped from 7770 to 7612 last week.
If SPX fails to hold 7620 after FOMC, we can see another dip to 7500 next.
Puts can work under 7620 this week.
I don't see any reason to flip bullish unless SPX reclaims 7700.
The market will be more straightforward to trade after FOMC on Wednesday, so be patient until then.
Two plans I'm watching.
Options carry risk of loss. Not financial advice.
$MU Trade Idea: Oct 28 800P
Level to watch: 853 β
Targets: 821, 734 π―
Invalidation: sustained reclaim of 853 π
853 is the line I'm watching.
If buyers lose it, 821 could come into play next.
Big week for memory stocks:
$SKHY reports Tuesday evening U.S. time.
$SNDK reports Thursday after the close.
Both could influence sentiment toward $MU.
I'm watching their outlooks on memory pricing, demand, and margins, and how stocks actually react.
Here's my plan:
853: Buyers need to defend this level. A break below followed by a failed reclaim would put the bearish setup in focus.
821: First downside target. Watch whether buyers step in or the bounce gets sold.
734: If 821 fails and $SNDK gets a negative earnings reaction Thursday, this becomes the deeper downside level I'm watching. It's conditional, not an automatic target.
If 853 fails and rejects the retest, MU Oct 28 800P could work for a quick downside move.
A sustained reclaim of 853 invalidates that breakdown setup.
Those puts expire Wednesday, BEFORE Sandisk reports Thursday.
They're a separate short-term trade, not a way to play that earnings reaction.
Size for the full premium risk and take profits along the way.
No need to front-run the breakdown.
If buyers defend 853, respect it.
Let the level fail first. Then trade the reaction.
Options carry risk of loss. Not financial advice.
$SMH Trade Ideas: Nov 27 550C and Nov 6 500P
BULLISH: Nov 27 550C
Trigger: hold or reclaim 525 β
Targets: 538, 550 π―
Stop: 515 π
BEARISH: Nov 6 500P
Trigger: lose 525 and reject the retest β
Targets: 515, 500 π―
Stop: 527 π
Buyers had their chance to push higher this week. They couldn't hold it.
Now we're back at a key decision point.
Last week, I highlighted 538, 525, and 500.
SMH closed this week at $527.20, just above that second level. Friday's bounce reached $533.34 before fading.
There still isn't enough confirmation to call a bottom.
Here's my updated plan:
527 to 525: Immediate support zone. Buyers need to defend this area and build higher lows. Repeated tests without a sustained bounce keep me cautious.
535 to 538: The first area buyers need to reclaim and HOLD. Former support at 538 now becomes potential resistance. A bounce into this zone that gets sold would keep the setup weak.
550: Upside target if buyers defend support and reclaim 538.
515: Invalidation for my shorter-term bullish trade. Below that, I step aside and reassess.
500: The next major support if the recovery fails.
With $MSFT, $GOOGL, $AMZN earnings and FOMC coming up, there are plenty of catalysts.
Their AI spending outlooks could move the entire semiconductor group.
$SMH remains my proxy for that reaction.
If $SMH holds or reclaims 525 and starts building higher lows, I'm watching Nov 27 550C, targeting 538 first, then 550. Invalidation below 515 on SMH.
If $SMH fails to hold 527, loses 525, and rejects a retest of that zone, Nov 6 500P could work. Watching 515 first, then 500 if selling accelerates. A sustained reclaim of 527 invalidates the breakdown setup.
Those targets and invalidation levels refer to SMH's price.
Options can lose value quickly, especially the shorter-dated puts.
Size for the premium risk and take profits along the way.
My broader scaling plan remains 25% at 535, 25% at 525, and 50% at 500, subject to reassessing the setup.
That scaling plan has different risk rules from these options trades. If the calls invalidate, I'm not holding them down to 500 just because that was another buying level.
I don't need to predict which direction comes next.
I need a plan for either outcome.
Be patient. Let price earn your conviction.
Options carry risk of loss. Not financial advice.
Another week of wins across the Elite Options community π₯
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TRADE PLAN For LOTTO Friday π
Alright we are in the extreme fear category BUT no real panic yet. There's still lots of pressure on Semiconductor and AI related stocks. I think we see one more flush before FOMC next Wednesday before we start to carve out a bottom. The fact that $QQQ broke under last Friday's lows is not a good sign for tech. $QQQ under 700 we can see 693,685 next. $SPX to 7500 in play if it breaks under 7620 as well.
Tread lightly and make sure you're not going all in BEFORE FOMC. That's how you get cooked. $SMH can drop to 500 on the next leg lower, this is most likely where a short term bottom will form. $NBIS 145 is the prime buy zone if it drops there next week. $SNDK if they flush this one more time we can see 1000 before midterm elections.
It's a risk off environment until after FOMC. I've been saying this since last week. Survive a bit longer we're getting closer to a bottom. π«‘
$QQQ Trade Idea: October 21 705P
Trigger: 711 β
Targets: 705, 700 π―
Stop: 715 π
QQQ dropped 7.2% the past 2 weeks.
QQQ dropped from 762 to 707.
If We see another pull back this week itβs possible QQQ drops to 685-693.
This will be the buy zone assuming we see more weakness in the market.
Iβd be careful with any gap up moves or intraday rallies especially if QQQ can get back above 722.
$SPX Trade Ideas
Bullish: Oct 21 7750C
Trigger: 7700 β
Targets: 7750, 7772 π―
Stop: 7669 π
Bearish: Oct 21 7600P
Trigger: 7669 β
Target: 7600 π―
Stop: 7700 π
SPX had a sharp sell off after CPI this past week.
SPX closed at 7659 on Friday.
If SPX fails to hold near 7620 we can see a deeper correction to 7500 before a bottom forms.
We have tech earnings starting this week with META IBM LRCX TXN TSLA.
Then we have FOMC the following week.
If SPX can dip near 7500 and hold, thats the buy zone.
For now we can see more volatility under 7700.
We need to see some panic in the market for the market to capitulate and bottom.
Iβd stay bearish under 7700 this week.










