4 Trade Ideas for MetLife: Bonus Idea

Here is your Bonus Idea with links to the full Top Ten:

MetLife, $MET, comes into the week approaching resistance and moving over its 200 day SMA. It has a RSI moving higher in the bullish zone and a MACD level and positive. There is resistance at 78.25 and 79.25 then 80 and 82 before 83.50 and 84.50. Support lower is at 77 and 76. Short interest is low at 2.3%. The stock pays a dividend with an annual yield of 2.92% and has traded ex-dividend since February 3rd.

The company is expected to report earnings next on May 6th. The May options chain sports the biggest open interest at the 70 and 60 strikes on the put side and at 80 on the call side. In the June chain it is spread from 80 to 62.50 on the put side, biggest at the 75 strike. On the call side it is biggest at 80. Finally, in the September chain open interest is biggest at the 65 put and 77.50 call strikes.

MetLife, Ticker: $MET

Trade Idea 1: Buy the stock on a move over 78.25 with a stop at 75.50.

Trade Idea 2: Buy the stock on a move over 78.25 and add a May 75/70 Put Spread ($1.55) while also selling the June 82.50 Calls ($1.05).

Trade Idea 3: Buy the May/June 82.50 Call Calendar ($1.40) while selling the June 70 Puts (95 cents).

Trade Idea 4: Buy the September 67.50/80/87.50 Call Spread Risk Reversal (40 cents).

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After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which with one week left in April and ceasefire talks set in Pakistan, saw equities show continued strength driving to new all-time highs for the second week in a row.

Elsewhere, look for Gold to continue recovering from the pullback but testing traders patience while Crude Oil attempts to right itself after last week’s freefall. The US Dollar Index looks to continue to drift in consolidation while US Treasuries continue to hold over 16 month support like nothing is happening. The Shanghai Composite looks to continue a short term uptrend closing in on the 2025 top while Emerging Markets push to new highs in their uptrend.

The Volatility Index looks to continue in the normal zone removing all the pressure on equities. The charts of the SPY, the QQQ and the IWM continue to look extremely strong on the longer timeframe with a 4th positive week moving to new highs. On the shorter timeframe the SPY, the QQQ and the IWM also look very strong but continue to show overheated momentum, and may need a pause. Use this information as you prepare for the coming week and trad’em well.

If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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