Blackberry price action suggests it will move higher; bullish on near-term upside via options.

Uh, the other thing I'm going to be trading this morning, and I do want to get us into ideas for the market into 9:30 in the morning, um, is Blackberry had earnings yesterday. Anyone trade that?

Made an interesting move. It sold off, went below $8, um, then came back up, finished near its highs, and now it's moving through new highs.

And sometimes on day two of these postnings moves, you get a real continuation move. And um I have the 850 calls that I bought for like 30 cents. Uh and and we'll see, but they expire today.

I'm looking for uh BlackBerry to possibly have a continuation move today. We'll see what it does. Blackberry is one of them with already BlackBerry has um 755,000 shares traded.

So, Blackberry's coming off earnings. So, if you look at yesterday's move, okay, um, post earnings, it went down to 793. So, if we could have grabbed it above 8 for that move back up to 880, that would have been that would have been a really good trade.

But the thing is, can it continue and where can it go next? The other day it was at 9:22. So, that would be the first stop if it wants to get back and test there, right?

the last time it got above 10 was in July and it wanted to make a move to 13. It had a lot of good news. Interesting that it sold off on the earnings. There are times where you could get a a continu a continuation play on an earnings stock where the explosion takes place the next day.

So, this is one in the open that I'm going to look at and say, "All right, if I could grab some above nine, some options for today, like they were trading at 10 cents at the close.

Um, they're probably going to be more up here, but let's say 15 20 cents. If we get one power up move, that that can make the whole day." Um, you know, but but also being willing to lay off it is is pretty is pretty key.

with the new iPhone and everything else, I'll stay away from Blackberry. So, Blackberry isn't um a phone play anymore. It's cyber security and they also do the um they're in cars.

So, Blackberry is not a phone play anymore. If you if you look the QX system is in all these different cars uh navigation system cyber security completely different company but they haven't fully sold that story at as evidenced by you saying you know with the phone um you know so just just to keep in line with try and chase Palunteer see Palunteer like there's that's the kind of stuff I was looking for Palanteer I was trading forever in the 20s 30s and 40s I put trades on it Uh,

you know, if you look at, um, like BlackBerry or SoFi or any of these stocks, a lot of stocks recently have opened up, came back down, and then they tend to find their way back up again.

Oh, wow. And look at this. Blackberry came all the way back down.

like as soon as the market opened everything had a hard drop like Black Friday dropped 50 cents on the open

Blackberry on the way back down.

Oh, you caught the balance on Blackberry. I mean this is actually moving pretty nice right now actually. Huh. Good. It's moving interestingly, right? I might trade this one for next week.

I think that may be the trade that that we leave you with that we say, "Let's put on one trade and see how we'll come back next week and see how we did." I think it would be this.

See if I could We could get the Blackberry options. for like.7 cents. Yeah, the that the October 2nd Blackberry uh eight calls for.7 cents for next week. You know, if we ended segment with the trade I leave you with to see how we do, it would be that one.

Yeah, my trade of the day though is Blackberry, which is what I should have stuck with coming in. Uh, okay. This is the trade I would say we could put on together and come back next week, look at, and I think possibly be happy that we did it. the eight dollar calls for October 2nd.

You can do one if you want risk like 70 bucks and see how we do to start. But I like the way this is moving and I do think this wants to go higher.

Blackberry was trading at 8.90 pre-market, sold off as soon as the market opened to 819. I think it looks like it's going higher. Someone else already caught the reversal in it.

Um, so the $8 calls for next week is my trade that I'm leaving you with. Okay. Um, which I like. Who's in that with me, by the way? Not big, small. First trade together. We don't want emotions.

But who's in the Blackberry 1028 calls? Blackberry 1028 calls. Who's with me? Small. I'm going to buy more. You know what? Not only Not only do uh not only do I think that this could go, but they brought it down to to give me a chance to bring it back up. So, let's see. That's the one I'm going for.

Okay, thanks Marcus. All right, I I like our position. I mean, and now it's trending higher. We're about to go positive in this black bar. Imagine I come on day one, we make one trade.

One trade and it's right for next week. How cool would that be? Now, if I really want to be aggressive, I really think this is going to go. I could buy some of the nine calls for 23 cents, but I don't know if I want I think nine might be the place where it's going to um all right.

and the trade I leave you with today is Blackberry October 2nd eight calls for next week that I think on this Friday this stock finds its footing and goes higher. One trade.

but the riskreward on something like this like a trade like Blackberry with options. The reason I like something like this, if this goes positive and makes a move to nine, then you you're probably going to make 50% on your money.

hopefully not be down too much in this Blackberry trade, just not pulling back with the rest of the market.