The Big 3: NET, TWLO, ASTS

The Schwab Network's 'Big Three' segment dives into three high-volatility tech stocks amid a market eager to rally despite geopolitical tensions and earnings uncertainty. Cloudflare, battered by a 15% drop in five days, is seen as a classic panic sell-off ahead of its May 7 earnings—making a pre-earnings iron condor strategy at $160–$195 a compelling low-risk, neutral bet. Twilio, though flat, shows signs of a bounce with a bullish IV play: buying a call calendar to capitalize on post-earnings volatility while selling pre-earnings premium. The real surprise is AST Space Mobile, which dropped 6.5% after Amazon’s acquisition of Globalstar—but analysts argue this is a buying opportunity at $92, with strong technical support near $78 and a cluster of moving averages around $90. The episode underscores a contrarian theme: market fear often creates the best setups, especially when fundamentals remain intact. The key insight? Don’t panic on a dip—especially when the market is signaling a rally. Cloudflare’s breakdown may be overdone, Twilio’s low IV offers a timing edge, and AST Space Mobile’s decline is a sector-wide reaction, not a company-specific failure. The real trade isn’t in the headline news—it’s in the technical structure and implied volatility mispricing that follows the noise.