Stocks closed higher for the 6th week in a row with the S&P adding 2.35%. Asia stocks closed mixed overnight while Europe indexes are mostly lower this morning. U.S. futures are pointing lower as I write this, the Dollar, yields, and Oil are higher while Gold is lower.
And here is the last rant if you missed: https://www.optionmillionaires.com/afternoon-rant-5-8-26/
Markets are starting the week at all-time highs and it looks like this morning we are surviving another black Monday. Joking aside, it seems like just yesterday weekend events in the middle-east had folks calling for a Black Monday. Now instead of worrying about a Back Monday, folks are now wondering how much is left in this incredible rally from the end of March lows. New highs beget news highs. Would be nice to see some consolidation here today and tomorrow. The upper-bollinger band has provided decent resistance the past 3 sessions and stands at $738 so likely a magnet today. Also this week we have CPI data tomorrow, PPI Wednesday and retail sales are Thursday:
Hopefully the week Yields can start melting:
GLW. What a week. The stock soared Wednesday after its investor day and announcement of a partnership and investment with NVDA. Calls paid over 1,300% on Wednesday and paid again when it rallied up to $198 on Friday and I took profits on some of this week's calls at 100% and over 200%. A tweet over the weekend shows one of the reasons why I think it keeps going higher... People don't even think it is a key part of the AI boom. This list has 50 companies, GLW would be in the top 10 size wise yet not even included here. Eventually it will be:
https://x.com/OMillionaires/status/2053473553740165600?s=20
Nice read here too on the NVDA/GLW deal:
The stock has ben bumpy. It closed up 18% for the week but staged a $12 reversal in Friday. It is gapping up nearly $8 this morning. Calls for next week are insane so I may just look to trade weeklies for now, though at some point I will add some much higher/later dated calls:
MRNA started showing signs of breaking out Friday morning. It was trading at $51 or so. Figured it had a shot of getting some FOMO with the Hantavirus being in the news... and MRNA is a name that typically does not need much of a kick to rally, so I went and added some calls. I didn't want same day since it was Friday, so I went with this week's strikes. They seemed pricey so I had to go over $10 out of the money. Sure enough it didn't matter, as the stock soared past the noon hour, with MRNA up 18% at times before closing up 11.97%. I used the move to close some of the calls out for over 150% and 500% and held some into this week. The stock is gapping $3 higher in the pre-market. May take a few more off today and then hold the rest for the possibility of more FOMO:
HPQ was rallying on Friday... finally. It closed up over 8% on strong volume. Feels to me like the stock has been left for dead while the likes of DELL have went on epic runs. Needless to say I added more calls and my May strikes are back to life. $22.79 the big spot, that breaks and I think $25+ in the coming days:
HTFL, one of my top 5 stocks for 2026, reports earnings Thursday. Love the story but unfortunately option strikes and spreads make it tough for an entry. May try today for an entry, likely June $40s. Entering is tough... need to put a low-ball limit in and let it fester for a while, and then raise it, then rinse and repeat up to a value you are willing to pay(or think it should be worth) - can ask AI for help on pricing or use option pricing tools). That is likely what I will be doing today on the June strikes:
SE reports earnings tomorrow. Was eyeing calls last week but the stock is pretty much telling me stay away. Will revisit after they report:
RDDT got absolutley pummeled since Wednesday and closed down over 6% on the week. Crazy. What would be crazier is if they keep pulling it. Will be watching but likely will pass on adding just yet. Not going to fight the trend:
At some point there will be some greed reset. Today, tomorrow, next week. So I am open to some lotto spec puts on some of the semi/chip names like ASML, LRCX, AMD, INTC, LITE. Likely won't have to enter, but those will be on watch this week if/when the greed reset happens.
And here is what I am watching today: HTFL, MRNA, ALMU, SE, JOBY, RDDT, ROKU, AAP, ENPH, SEDG, HTFL, AXSM, COCO, ATOM, RBLX, ROKU, ALGN, META, AMZN, CRBP, HIMS, NFLX, BIDU, SMCI. NKLR, GLW, AAOI, LMND, SHOP, ANET, AVGO, INTU, ADBE, APP, WING, LRCX , ASML,ORCL, U, TTD, and TSLA.
Let's have a great day!
-JB