Stocks rallied yet again on Thursday, with the S&P adding .16%. Asia stocks closed in the red overnight while Europe indexes are mixed this morning. U.S. futures are pointing to a green open, while the Dollar, Yields, Oil, and Gold are all lower.
And here is the last rant if you missed: https://www.optionmillionaires.com/afternoon-rant-4-16-2026/
Wow. That is the only word I can think to describe the recent market run. The Nasdaq just closed higher for the 12th session in a row and both the Nasdaq and S&P notched back to back all-time highs... a few weeks ago it seemed like a bear market was inevitable, a recession was probable, and new all-time highs was impossible anytime soon. Yet here we are. Amidst this stretch headlines were littered with reasons to be short... just another great example of how important it is to be able to tune out the noise. Or at least be open to scenarios, otherwise you get smashed. New highs typically beget new highs, so as crazy as at sounds, it is easier for more highs here in the coming days. Of course pending any headlines. Nice little stat here:
This factoid shared by Bespoke Investment Group gets right at what is making this rebound so unusual. According to historical data going back to 1928, the S&P 500 just accomplished the following for the first time ever: It rallied back to a record high in 11 days or fewer, after falling between 5% and 10%.
The SPY broke into the $700s and, once it did, seemed like a hot knife thru butter with a big candle to the upside. Should be a battle ground if we get any sellers this morning:
I took some spec calls on FUBO and RBLX on Wednesday. Both opened somewhat flat. I was expecting FUBO to have continuation after its strong break over $13 on Wednesday. Instead it started to reverse the open so I closed the calls out for a loss. RBLX also couldn't hold the open so I closed those calls out flat. Will be watching both again for call opportunities. One of these days RBLX takes off and does not look back until its $75+:
NFLX reported a monster Q after the close but then announced Reed Hastings was leaving. He cited that the business was so strong it did not need him anymore. Either way, when a CEO leaves it usually weighs on a stock(unless it was a bad one then the stock rallies). I may try some lotto calls today for a move back over $100. If it shows serious strength, I may look for some strikes into next week or even monthlies to play for a move north of $110:
With April expiration today will look to add some later dated strikes on CRBP, likely May 15s:
Those SMCI May $35 calls I closed are up .18 from my exit. I think SMCI breaks $30 and doesn't look back. If it shows strength today over $29 may look to add some $37 or $38 May calls:
DUOL at its 50dma. One of the beaten up names that hasn't recouped much at all. Think it can fly past $120. I may look for next week calls today... finally:
And of course still eyeing RDDT and SHOP lottos.
Also ROKU could rally today.
And here is what I am watching today DUOL, CRBP, SEDG, HIMS, BIDU, RBLX, NFLX, ROKU, SMCI, RDDT, KODK. 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