Using the monthly and Weekly time frames to establish and / confirm trend, I believe TTD is about to go down into and right after earnings.
TTD completed a 5 wave cycle impulse on the Elliot Wave and has so far completed Wave A on the retracement. Wave B is underway and should tap out around the $80.52 price point (give or take $5) and within that range, i am short TTD. Earnings is coming up the week of Nov 8th and unless there is an unusual bullish surprise, i am betting on TTD dipping down to around the $44 - $52 range within 2 weeks of earnings. With that in mind, I will be playing TTD Puts (Naked) 11/19 $70 strike as well as 12/17 $60 Strike.
As always, do your own DD and let me know your thoughts. Feel free to play a more conservative strategy if that appeals to you (i.e. Sell Call credit spreads, Buy Put Debit Spreads, Strangle for Earnings, Iron Condor for Earnings, etc.)
TTD completed a 5 wave cycle impulse on the Elliot Wave and has so far completed Wave A on the retracement. Wave B is underway and should tap out around the $80.52 price point (give or take $5) and within that range, i am short TTD. Earnings is coming up the week of Nov 8th and unless there is an unusual bullish surprise, i am betting on TTD dipping down to around the $44 - $52 range within 2 weeks of earnings. With that in mind, I will be playing TTD Puts (Naked) 11/19 $70 strike as well as 12/17 $60 Strike.
As always, do your own DD and let me know your thoughts. Feel free to play a more conservative strategy if that appeals to you (i.e. Sell Call credit spreads, Buy Put Debit Spreads, Strangle for Earnings, Iron Condor for Earnings, etc.)