April 29th, 2024 Watch List

Futures are pointing to a green start to the week, with the S&P set open .27% higher as I write this. Asia stocks closed up overnight while Europe indexes are mixed this morning. The US dollar, and Yields are lower while Oil and Gold are higher.

And here is my rant from Friday if you missed: https://www.optionmillionaires.com/jbs-afternoon-rant-april-26th-2024/

And this mornings pre-market rant :

Markets ended the week in strong fashion, with the S&P adding nearly 1% and closing the week up nearly 3% while the Nasdaq ended the week up nearly 4%:


This week is another big one for markets, with nearly 1,000 companies set to report earnings, the Fed Meeting and statement/presser on Wednesday, and the April jobs report on Friday. AAPL and AMZN will steal the show with earnings, although SMCI and AMD will likely be more watched, here are some implied moves:

As long as Powell is able to walk the tight-rope on the presser and leave open the possibility of multiple rate cuts this year and we get decent earnings from AMZN and AAPL, think the markets can hold their ground and the SPY can work on breaking that $512.50 handle:

RILY squeezed some more on Friday and I was able to close the last of my calls for 600% and over 400%. Was looking at the open interest this morning on RILY and something sure looks up. There has to be a few hundred million in notional value on the call side. Couple that with over $400 million in short interest, and it could mean there is a molotov cocktail incoming. I said last week I was done with RILY but I may nibble some spec calls again if it squeezes and holds $40... maybe this thing over shoots:

TRUP rallied another 3% on Friday and looks poised to break back over $25 today. They report earnings Thursday. Would want to lock my calls in to cover costs before then and may look at some spec calls over $30. Think collateral damage from the RILY shorts is coming soon:

Another strong session for VKTX on Friday, closing up over 7%. Was hoping for some M&A this weekend but nothing so far. Will continue to hold my June strikes. Think it works its way into the $100s in the coming weeks regardless:

CAVA closed up over 10% on Friday on no news I could see. It looks like folks are bidding it up in sympathy to CMG's strong report. Think $75+ is finally coming. Will look to close some of my calls at 100%, when I get the chance, and hold the rest:

CDLX will report earnings next week. Will finally enter some June strikes. It held its 50dma like a champ and bodes well or more upside this week:

DELL closed flat on Friday despite the big earnings beats from MSFT and GOOGL. Would have liked to see more... Still setting up nicely here but will have to hold $123s or so. Not adding any more strike just yet:

As I mentioned on my Rant, watching PYPL and SQ this week for earnings. PYPL reports tomorrow before the open while SQ reports Thursday after the close. May look to add some spec calls in both:

The good thing is may be able to get some premium build on SQ before they report:

And lastly, AI is setting up nicely here. They should report the last week of May or so. May look to add more strikes to encompass earnings:

And here is what I am watching today: PYPL, AI, SQ, DELL, CAVA, CDLX, POOL, URI, AVAV, GWW, VKTX, TRUP, SE, MDB, IIPR, NOW, TZA, ,SPOT, EW, TERN, SNOW, LRCX, GPCR, PYPL, and V.

Let's have a great day!


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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