April 13th, 2023 Watch List

Markets closed lower on Wednesday, with the S&P finishing the session down .41%. Asia markets closed higher overnight while Europe indexes are in the green this morning. U.S. futures are pointing to a higher open, the Dollar and Oil are lower while Yields and Gold are higher.

And this is what UPB is reading this morning: https://www.optionmillionaires.com/morning-reads-237/

It was a frustrating session yesterday, with stocks gapping higher at the open, only to give it all back and them some to close in the red. In the afternoon the Fed minutes came out showing some of the FOMC members were mulling the possibility of leaving rates unchanged instead of a .25 hike. Would think this trend continues and we get to a point where rate cut probabilities start increasing into the end of this year. The SPY closed back under that $410 handle. Would want to see that reclaimed soon or I fear $400 test may come sooner rather than later:

INMD gapped higher at the open after they pre-announced and raised guidance. I used the move to close more of my calls out for 400%. The stock went on to test $38.38 before finding late session pressure to close at $36.90. Still like this one for a $40+ move and may look to add some more calls today:

SSYS rejected the most recent buyout offer from NNDM this morning. The stock is gapping a bit higher on the news. It has been a rough couple of sessions for SSYS after testing the $16.50 handle, closing lower in 6 of the past 7 days. It closed under its 200dma for there first time since April of 2022. Would be a great sign here if it can reclaim that today and work towards breaking that $16.50 resistance. If it holds gains in the mornings, I may look to add further out strikes:

VKTX closed higher for the 4th straight session, breaking into 52 week highs before pulling back into the afternoon. Still holding my May strikes. If it gets back over $18 today I may look out to June for some more calls and the eventual move into the $20's

Tomorrow kicks off the Q1 earnings season. Banks will steal the show with C, WFC, and JPM set to report. Will be interesting to see the commentary and if the Silicon Bank fiasco is behind us or there is more pain coming. BLK is the name I will be watching. I think it has been pulled down needlessly and will post a solid Q. Premiums are pricey so I may look to just trade tomorrow after earnings unless I can find a decent risk/reward strike:

UNH reports earnings as well tomorrow. A strong report should help CI break out of its recent consolidation:

NFLX reports Tuesday, it is gapping higher this morning after closing right at its 50dma. Could be a nice premium build play into their report. May look for some calls to play for a move to $350 and look to close some/all of the calls in before the close Tuesday:

And this is what I am watching today: NFLX, POOL, SITE, BLK, VKTX, SPOT, SMG, ROKU, FAZ, MASI, EXAS, CMG, ULTA, YOU, SRS, BLK, SQ, MDGL, SAGE, ICPT, DKNG, U, TWLO, TRIP, RBLX, SPOT, AYX, and GLD.

Let's have a great day!

-JB

JimmyBob (Scott)has been trading equities for over 15 years, a majority of which were OTC micro-cap stocks. He started trading high risk stock options over the past 7 years, and has proven winning trades in excess of 15,000%.

As one of the Co-Founders of optionmillionaires.com, Scott enjoys sharing his knowledge with other investors through timely blog posts, daily watch lists in the forum, weekly webinars, and helpful advice within the chatroom.

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