SHOP was up last week, but ..

SHOP reported strong 1st quarter numbers last week (week 17 of 2021) and finished the week up 7.2% (moving from $1099 to $1182).

The Q1 earnings release was initially met by a strong price movement, which was quickly given back over the following 2 days disappointing most investors.

The 20-week linear regression line is currently at $1196, a minimal uptrend.

But $500 point sell-off after Q4 2020 earnings release (which was followed by a spot secondary offering of $1.55 billion) remains the most dominant price movement over the past 20 weeks or year for SHOP.

It is a volatile stock, and there is no reason to expect that to change. Opportunities to trade options will repeatedly present themselves. The “new normal” in the post COVID economy will still be dominated by e-commerce.

I’m biased towards the bullish side. Worried about a broader pullback in the $NDX. And trying not to react to every $50+ price move in $SHOP.

I intend to add to my SHOP position with DITM calls (or spreads) if it falls within that lower portion of the VPVR price range as shown ( approx $950 to $1050).