Trade ideas I send your way have been gold mines lately.
Yesterday, FEYE stock went up 7%. As for MRVL, here’s what I saw in my account…
Now let’s face it… COVID-19 cases have been spiking. But believe it or not, some stocks can benefit as a result!
| Ticker Code | Ticker Name | Ticker Industry | Price Change | Average Volume (50)* |
| NEWS | NewStar Financial Inc | Credit Services | N/A | N/A |
| V | Visa Inc | Credit Services | -0.74% | 8,483,082 |
| LMFA | LM Funding America Inc | Credit Services | 41.46% | 4,138,879 |
| PYPL | Paypal Holdings Inc | Credit Services | 15.63% | 7,392,804 |
| ONDK | On Deck Capital Inc | Credit Services | -16.22% | 2,201,409 |
| AXP | American Express Company | Credit Services | -17.63% | 6,245,577 |
| COF | Capital One Financial Corp. | Credit Services | -32.22% | 4,908,612 |
| DFS | Discover Financial Services | Credit Services | -25.43% | 5,944,214 |
| MGI | Moneygram International Inc | Credit Services | -11.58% | 4,548,537 |
| SYF | Synchrony Financial | Credit Services | -14.01% | 9,063,996 |
| QD | Qudian Inc – ADR | Credit Services | 37.70% | 6,995,099 |
| MA | Mastercard Inc | Credit Services | -2.30% | 4,085,523 |
| EZPW | EZCORP Inc | Credit Services | -9.63% | 614,940 |
| DXF | Dunxin Financial Holdings Ltd | Credit Services | 48.19% | 1099385 |
| LC | LendingClub Corp | Credit Services | -27.54% | 1,451,214 |
| WU | The Western Union Company | Credit Services | -13.36% | 7,118,938 |
| WRLD | World Acceptance Corp. | Credit Services | -15.31% | 65,098 |
| XRF | China Rapid Finance Ltd – ADR | Credit Services | 60.70% | 1,594,813 |
| ADS | Alliance Data Systems Corporation | Credit Services | -36.67% | 2,185,514 |
| TSS | InnoTec TSS AG | Credit Services | -12.85% | 4,464 |
Before I give you analysis on a stock I’m watching into Friday’s trading session, let me tell you why I’ve looked at credit service stocks alongside Wall Street.
Retailers are closing back down. In fact, Bed Bath and Beyond just closed another two hundred stores. Apple did the same a short while ago. If this is a sign of more future closures to come, it could only be the beginning of an extensive series of re-closures just after short-lived re-openings took place…
So what does this mean to consumers? It means e-commerce could be back in full force, just like it was in March, April and May, when stay-at-home mandates were alive and well as a result of the COVID-19 pandemic.
A credit service company which has picked up in popularity since e-commerce has become more and more popular is PayPal (NYSE: PYPL).
Just yesterday, some Wall Street cowboy came in and bought:
At $2.35 Per Contract
A $47k Purchase
If you remember yesterday; the markets weren’t necessarily attractive to buy into… but that didn’t stop this option player from making a bullish bet on PYPL.
Time will tell if more buyers pile on today, but even if they don’t, I’ve got my trade plan ready to go in advance.
While PYPL did notch a new all-time high yesterday, it has pulled back with markets a little bit this morning.
That all-time high of $183.99 is now a resistance level for the stock itself, while $178.23 is a key support level level.
If PYPL holds support and bounces higher, I’ll jump in PYPL July 24 192.5 Calls and consider holding it as a stream of passive income over the weekend.
If PYPL breaks support, then I apologize in advance to the option player who took a $47k bullish bet on this stock yesterday, but I’ll most likely make a bearish move with the intention of closing it by the end of the day.
For earnings, dividends and news articles on PayPal, just follow this link!
Let me know how your trading goes today!
Happy trading,
Davis Martin
America’s #1 Options Trader
Disclaimer: This is not investment advice. This article is for information purposes only and opinion-based on financial advisor data across a selection of websites. Investors should be cautious about any and all investments and are advised to conduct their own due diligence prior to making any investment decisions.