Stocks closed lower on Thursday, with the S&P losing .41%. Asia markets closed mostly lower overnight while Europe indexes are in the red this morning. U.S. futures are pointing to a green open, the Dollar and Gold are higher while Yields and Oil are lower.
And here is the last rant if you missed: https://www.optionmillionaires.com/afternoon-rant-4-23-26/
Markets went back into profit taking mode on Thursday. Not much was different between Wednesday and Thursday outside of earnings from $NOW putting pressure on software names. It was just more headlines from the Middle East. Between 1pm and 1:45pm yesterday the SPY fell from $711 to $702 with no headline or catalyst to speak of. Then bounced back to $709 by 2:30. Normal price discovery... sense my sarcasm. Just exhausting knowing that one headline can change your positions in a big way. This morning there are reports people from Iran are headed to Pakistan for talks tonight and futures rallied on the news. Hopefully this weekend can be it... some agreement can be made, and we can go back to trading fundamentals and not headlines. Still think $720 is coming on the SPY with $708 or so being resistance:
What a day:
TZOO gapped higher after earnings and rallied over 50% at times, testing $12 before giving a lot of it back to close up 26% at $9.48. I was actually shocked at the open when the June 10 calls were .35 x 1 or something like that. Within 5 minutes the premiums came in and I locked some of the calls out for nearly 400% and then more for nearly 600%. I held the last few even on the dip. I was thinking of adding later/higher strikes to play for a move to $14+ in the coming weeks but figure holding the last few will do the same job. Great to have a pay day on TZOO, it has been a while!
POT names were gapping higher. on the reclassify news but then seemed to struggle. I worried sell the news was coming so I closed my IIPR calls for 60% on the $70s and 50% on the $65s. Sure enough POT names tumbled. Don't think I'll be revisiting just yet.
NKLR rallied again yesterday, closing up nearly 6%. I used the move to close some of my calls out for nearly 100% to cover costs. It is gapping higher again this morning. Have to think FOMO comes in here at some point. I may look to close more of my $10 calls out and look for some further out strikes to play for the FOMO:
Energy, energy, energy. That story is not going away anytime soon and still boggles my mind that names like SEDG, ENPH and even FSLR are acting like their sector is in decline. At some point that changes. I added some SEDG calls into next week and like magic the stock rocketed higher. By the afternoon I was able to lock some of the calls in for 100% and 300% and held the rest. If it breaks and holds $50 today I may look for more strikes:
Unfortunately ENPH and FSLR report earnings next week, Tues and Thurs respectively. So premiums are high. I still may look to nibble some far OTM spec calls on both if they shows strength again today.
FSLR $240/250s:
And ENPH $48 or 49s:
Still eyeing ALMU calls for some FOMO. And watching RDDT, RBLX, and SHOP for possible lottos.
And ROKU reports next week. May look to nibble some calls as well for premium build:
And here is what I am watching today: ALMU, DUOL, NFLX, ROKU, SEDG, HIMS, BIDU, RBLX, 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