ADBE & SMH Trade Plan - Week of January 29, 2023

ADBE Trade Plan

This ticker was stuck within a 40pt range last week between 630-590. Great conditions to trade no doubt especially with how options premiums move on this ticker. So what’s in store for this week?

Gamma shows that dealers are supportive of pushing price to 595 if we get below 610. So let’s keep an eye on this and ultimately how the market/indices trade so too will ADBE. Above spot dealers are not interested in supporting any moves so some big whale will need to come in strong in order to push price up.

Below we will share our key levels, trade ideas, and strikes we are interested in…

Key Levels:

620 - this is a key vanna level, it also is where our weekly VAH at 624 sits. Ideally, we see this level trade again to see if it continues upward or if we reject it back down.

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