It's going to be another crazy week of earnings. Last week $NFLX soared higher than ever before. $GOOGL? Even higher than that. $GOOGL posted one of those 'why we trade options' type move, turning $10 into $10,000 or potentially $1,000 into $1 Million.
I'll have a few more this week on what earnings I am likely to trade and how I am going to trade it. For now let's do a rundown on some of the big earnings reports this coming week including $YHOO, $IBM, and $AAPL.
If you listen to any of my market videos, chat room audio, I have mentioned all too frequently that April 2008 Google earnings spike that sent options from $.50 to $50. $500 to $50,000. Today the GOOGLE earnings move far surpassed that one in 2008. Simply incredible. The $600 calls from $.10 to $102.96 or $10 to $10,296 on one contract.
A one thousand dollar buy at the low last week would have found you a millionaire before lunch time today. Stock options can humble you one day and blow your mind the next..... today.... its mind blown.
Just one of a host of trades from the chat room today.
How can you recap the market today without mentioning GOOGLE? The stock spent almost all of 2015 mired in a tight range, clinging to $550 like a baby clings to its mother. And then this week Mom let it go and its up over $670 after the bell. A huge earnings move.
The chart was setting up and today it broke in a big way.
Here we are one week removed from #Greebola and the Nasdaq is up at record highs. Greece and China, according to the financial media and every bearish columnist writing on this side of the Gamma Quadrant, was supposed to send stocks lower. Instead its done what every other sell off the last 6 years has done.. created a tremendous buy the dip opportunity.
Some of today's live audio from the chat room
Unusual Option Scans / Stock Scans
The $SPY is up to a key juncture:
