Days like yesterday can make your week or month as NFLX calls provided some HUGE returns. The market sold off at the open, only to rally mid-day, and fall again end of day. Figured with all the intervention from world banks, we would see a nice ramp up. Time will tell.
Todays highly anticipated jobs reports disappointed as folks were expecting 100,000 and we got 80,000. Unemployment rate stayed flat at 8.2% . Again, i think most of this news is somewhat irrelevant as folks will rsay buy equities as bad economic numbers increase the odds of more FED QE.
Today could be a fun day on the weeklies expiring today. Will be looking for some pullback plays:
AAPL – $615 calls for lottos – looked extremely strong past 2 sessions. Will wait for dust to settle at open
SHLD – 62.50 calls paid nice yesterday, will look for another possible position for next week
NFLX – think the hype continues into next week. JULY 110 calls maybe a nice play
GOOG – HATE THIS ONE and said $500, but think folks in the know are bidding her up before earnings. May try some 600 calls today and look for some plays for earnings.
Happy Trading and see you in chat!!
- Jimmybob