Markets closed in the green to end the Month of July, with the S&P adding .15%. Asia markets fell overnight on weaker than expected data while Europe indexes are also in the red this morning. U.S. futures are pointing to a lower open, the Dollar and Yields are lower while Oil and Gold are higher.
And this is what UPB is reading this morning: https://www.optionmillionaires.com/morning-reads-296/
It was a somewhat lackluster session yesterday, with markets chopping around in a tight range for most of the day. Stocks with high short interests took the stage yesterday with names like PTON, SOFI, AFRM, and others squeezing. After the close today we get earnings from AMD. Some more churn today and think that $460 handle on the SPY comes into play at some point this week:
YOU, TRIP, TNDM, FVRR, and WW all report earnings this week.
YOU will report before the open tomorrow and will need to clear the air(no pun intended) around the negative Bloomberg article. I think they will post huge growth, 40%+ , and raise guidance but that will not matter if they do not address the TSA issue. If they do, may look to add some more calls after the open tomorrow:
TRIP reports after the close tomorrow. I finally locked some of my Sept calls in for over 100% and will hold the rest into the report. The stock has an 11% implied move. Think any beat and raise and the stock is $20+ with the risk that a miss may put the stock back to $16 or so. I like the risk/reward here though:
FVRR will report earnings Thursday morning. Would have liked to have taken some of my calls off to cover costs. They are flat right now so will likely hold them into Thursday unless I can get 100%+ for some of them. FVRR has a 16% implied move. Think any beat and positive spin on #AI and the stock is over $40. A good sign it has held that 50dma:
And a nice sign to see the #AI gigs growing at a fast clip:
WW will report earnings Thursday after the close with an implied move of 18.8%. It will be a big quarter with the company set to discuss the Sequence acquisition and performance in more detail. If membership levels continue to stabilize and they spin the acquisition in a positive light, think $15+ comes at minimum. Some of my tweets from yesterday:
Already locked some of my Oct calls in for nearly 300% and will just continue to hold the rest of my calls. There is plenty of risk, the company is very divisive with some thinking WW will go bankrupt. I think the opposite, that WW will leverage their 60 year old member list and brand name to be part of the new weight loss regime of drugs plus support... ie counseling, strength/cardio programs, and diet. I'll probably wait until the weekend to have my post out - doesn't make sense to spend time writing when there is potential new information coming out in just 2 days:
I added some TWLO calls yesterday as outlined on the watch list. The stock closed in the green yesterday but off the highs. Think $70+ comes this week:
Will probably keep things small today, though may start looking at ROKU if it shows strength at the open for a possible move into the $100s and will also have my eyes on SPOT, which could see $160+ once the sellers are done.
And this is what I am watching today: ROKU, SPOT, TNDM, WW, SHW, BIDU, ALGN, ISRG, YOU, FVRR, ANET, ULTA, SSYS,  BLK, Z, ANET, IBM, NFLX, QQQ, AXSM, and SAGE.
Let's have a great day!
-JB