The trade of the week this week just reported earnings and here are a few highlights:
The stock is currently down $9.05 (6.5%) and was down another $6 at one point today. So what gives? Who cares, let's look at empirical evidence over the last year to plan our trade and trade our plan.
What stock is this?
Given the information above, which would you rather trade on? Stock performance after earnings report or data that is on the chart? The stock in question is Shopify (ticker symbol $SHOP). What I'm looking for in SHOP is a play to collect premium from the stock while having a bullish sentiment. The best play for this is a put credit spread. This particular trade over the last year has had 4 wins and 0 losses after earnings. Had a total return of $3665 (60%). To learn more about this trade you need to join our community today. CLICK HERE TO JOIN NOW. If you follow me and DM me on Twitter or Instagram, I'll knock of an additional $100!