GOOGL: Potential for Further Upside. For December 12, 2024
Key GEX Levels:
1. Resistance Zones:
* 195 (3rd CALL Wall, 48.11%): A significant resistance level with strong call activity.
* 200 (10.35% CALL Wall): Another resistance area, but less significant than the 195 level.
2. Support Zones:
* 190 (2nd CALL Wall, 85.43%): Strong support zone, indicating a likely bounce if prices retrace.
* 187.5: Additional support backed by high positive NETGEX.
Price Action Insights:
* GOOGL is trading near its 195 resistance zone. This level will be critical to watch for breakout potential.
* Momentum has been bullish, with the price consolidating after an upward move. A clean breakout above 195 could push the price towards 200.
* Trend Bias: Bullish above 195; neutral-to-bearish below 190.
Options Oscillator Insights:
1. IVR (Implied Volatility Rank): 32.3
* The IVR suggests moderate implied volatility. This provides an opportunity for options strategies, as premiums are neither too expensive nor too cheap.
2. IVx Average: 35.1
* Indicates the historical average of implied volatility, slightly above the IVR, confirming stable volatility levels.
3. Call%/Put% Distribution: 47.5% Call-dominant
* Market sentiment leans bullish, with higher call volume dominating the options flow.
Options Trading Recommendations:
1. Bullish Setup:
* Call Option: Strike price 195.
* Expiration Date: December 22, 2024.
* Target Level: 200. Rationale: A breakout above 195 could trigger strong bullish momentum.
2. Bearish Setup:
* Put Option: Strike price 190.
* Expiration Date: December 22, 2024.
* Target Level: 187.5. Rationale: A rejection at 195 or a breakdown below 190 could push prices lower.
3. Neutral Setup:
* Iron Condor: Utilize strikes 190 and 200 for the wings.
* Expiration Date: December 22, 2024. Rationale: Capitalizes on range-bound movement between support and resistance zones.
Trading Plan:
* Above 195: Enter long positions targeting 200. Use options or equity positions.
* Below 190: Consider short positions targeting 187.5. Hedge with puts for downside protection.
* Between 190-195: Look for consolidation or sideways action before committing.
Final Thoughts:
GOOGL's proximity to critical GEX levels provides high-confluence trade setups. Traders should closely monitor the 195 resistance and 190 support to confirm directional bias. Utilize the Options Oscillator insights to refine entries and exits.
Disclaimer:
This analysis is for informational purposes only. Please conduct your own due diligence before making trading decisions.
1. Resistance Zones:
* 195 (3rd CALL Wall, 48.11%): A significant resistance level with strong call activity.
* 200 (10.35% CALL Wall): Another resistance area, but less significant than the 195 level.
2. Support Zones:
* 190 (2nd CALL Wall, 85.43%): Strong support zone, indicating a likely bounce if prices retrace.
* 187.5: Additional support backed by high positive NETGEX.
Price Action Insights:
* GOOGL is trading near its 195 resistance zone. This level will be critical to watch for breakout potential.
* Momentum has been bullish, with the price consolidating after an upward move. A clean breakout above 195 could push the price towards 200.
* Trend Bias: Bullish above 195; neutral-to-bearish below 190.
Options Oscillator Insights:
1. IVR (Implied Volatility Rank): 32.3
* The IVR suggests moderate implied volatility. This provides an opportunity for options strategies, as premiums are neither too expensive nor too cheap.
2. IVx Average: 35.1
* Indicates the historical average of implied volatility, slightly above the IVR, confirming stable volatility levels.
3. Call%/Put% Distribution: 47.5% Call-dominant
* Market sentiment leans bullish, with higher call volume dominating the options flow.
Options Trading Recommendations:
1. Bullish Setup:
* Call Option: Strike price 195.
* Expiration Date: December 22, 2024.
* Target Level: 200. Rationale: A breakout above 195 could trigger strong bullish momentum.
2. Bearish Setup:
* Put Option: Strike price 190.
* Expiration Date: December 22, 2024.
* Target Level: 187.5. Rationale: A rejection at 195 or a breakdown below 190 could push prices lower.
3. Neutral Setup:
* Iron Condor: Utilize strikes 190 and 200 for the wings.
* Expiration Date: December 22, 2024. Rationale: Capitalizes on range-bound movement between support and resistance zones.
Trading Plan:
* Above 195: Enter long positions targeting 200. Use options or equity positions.
* Below 190: Consider short positions targeting 187.5. Hedge with puts for downside protection.
* Between 190-195: Look for consolidation or sideways action before committing.
Final Thoughts:
GOOGL's proximity to critical GEX levels provides high-confluence trade setups. Traders should closely monitor the 195 resistance and 190 support to confirm directional bias. Utilize the Options Oscillator insights to refine entries and exits.
Disclaimer:
This analysis is for informational purposes only. Please conduct your own due diligence before making trading decisions.
Penafian
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