Futures are pointing to a slightly lower open to start the week, with S&P futures down .05% as I write this. Asia stocks closed higher overnight while Europe indexes are solidly in the green this morning. The US dollar and Gold are lower while Oil and Yields are higher.
And here is the last rant if you missed: https://www.optionmillionaires.com/afternoon-rant-4-24-26/
This week is dizzying. Not only do we still have the backdrop of the middle-east, but there is an insane amount of companies reporting... and not so much about the quantity as much as quality(and some of my favorite names). We also have the Fed meeting, the first read on Q1 GDP, and PCE data. if anything, at least these week will not be boring.
Over the weekend Trump said his delegation would not fly to Pakistan for talks with Iran. Instead he said they should call. If this happened 3 weeks ago, futures would be down 2% this morning. Instead they are flat. As I have been saying, think the market has priced in a positive resolution to the mess with Iran. Hopefully we are out of the exhausting headline driven market we were in. Funny how this weekends articles seemed more positive with markets at all time highs. Like this one from the WSJ:
Who knows where we stop but have to think SPY $720 is next pending any crazy shenanigans:
And here are some of the implied moves for earnings this week:
GLW reports earnings tomorrow morning. I was looking to grab some spec calls to play for premium build on Friday. The $220s that expire this week were .45 on the bid. Figured the stock would need to rally $20+ by Monday close for those to play so went to the $230s, which were bidless. I figured .22 was a decent risk so I put the limit in and got filled right away. By the noon hour was I was able to take some off for over 150%. I will likely hold the rest into tomorrow as I high risk/reward trade. A miss or even a beat but not a big one and the stock could trade flat or down. I think they will report a huge number with monster backlogs and maybe another deal:
After string at ALMU for the past 3 weeks(probably longer), I finally pulled the trigger on some calls. As I mentioned after I added, this stock can catch FOMO into the $30s or head back under $15. Of course I think the former. They had news this morning as well:
https://x.com/OMillionaires/status/2048720585614610753?s=20
They don't have strikes past $35. Once those open, may look to add some later dated strikes:
Still holding those freebie SEDG calls. ENPH reports earnings tomorrow afternoon and FSLR on Thursday. Not sure I will add anything more just yet. Such odd action. SEDG looked set to break into the mid-50s Thursday. Then on Friday it was like all the buyers took off. Hopefully the buyers are back today:
RDDT and RBLX both report after the close Thursday. I think both will post monster results with huge beats and raises. Just seems like the only thing that matters right now is how the market reacts which makes it frustrating to try to even trade. So may just sit on my hands on both. Think RDDT is $190+ and RBLX is $80+:
KODK had its worst back to back sessions since $6. Will need to get going today/tomorrow. No plans to add anymore:
And lastly, still watching HIMS for some possible spec calls.
And here is what I am watching today RDDT, RBLX, ALMU, HIMS, DUOL, NFLX, ROKU, SEDG, BIDU, RBLX, SMCI. NKLR, GLW, AAOI, LMND, SHOP, ANET, AVGO, INTU, ADBE, APP, WING, LRCX , ASML,ORCL, U, TTD, TSLA, ALMU, VKTX, RH, ROKU, KODK, ALGN, ISRG, LMND, CF, NTR, IPI, SERV, SHOP, ANET, HTFL, ROKU, POOL. V, MA, ZM, WING, SHOP, SQQQ, MRNA, DUST, FLWS, COCO, COIN, and SQQQ.
Let's have a great day!
-JB