February 9th, 2024 Watch List

Markets closed higher again on Thursday, with the S&P squeezing out another last minute gain. Asia markets closed mixed overnight while Europe indexes are in the green this morning. U.S. futures are pointing to a higher open, the Dollar, Yield, and Oil are higher while Gold is lower.

Stocks continued their chop in Thursday, with the S&P trading in an extremely tight range. The low of the day for the SPY was $497.26 while the high was $498.71- a .02% range. Would expect more of the same today with a possible test and close above that $500 handle. Can only imagine all the bearish headlines over the weekend, which tends to happen when stocks hit highs. Not saying there won't be a pull-back, just saying to be prepared for the onslaught:

A good sign yesterday was the participation by the small-caps. Hoping they can start to outperform and provide the next leg:

It was another great session for WW, with the stock rallying another 11%. I used the move to lock some of my April calls out for over 100%. The stock is gapping again this morning and think that $5 handle is a key spot and should squeeze more on the break. Will be looking to close more March calls today:

ROKU rallied up into the $98s yesterday morning. I used the move to close most of my $100 strikes for 100% and 200%. Still hold a few along with my spec calls. Will need another big move today. Will likely be on the sidelines for its earnings next week and revisit, though I think it will post another monster Q:

VKTX surged over 18% yesterday after the company pushed forward the timing its oral and phase 2 data for their weight loss dug. This morning some publications are out saying VKTX is an inexpensive way to play the GLP-1 craze... funny how that works - where were they at $10?. I used the premium crush on the calls to add some Feb strikes. Will look to close some out today to cover costs and may look to add some higher strikes as I think VKTX can now trade north of $40 on any positive data:

BURL broke above the upper Bollinger band after trading in an extremely tight range for the past 2 months. Any continuation today and it's $210+. I added some weekly strikes and some calls into next week. Will hold the calls for next week while looking to close most/all of the weekly strikes at the open:

AI closed up over 3% yesterday and I was able to close some of my calls out for over 100%. Think $30 is coming over the next few sessions. If it shows strength today may look to add more strikes:

DWAC closed up another 4% yesterday despite an offering announcement. Its was gapping over $50 in the pre-market but is trading in the $48 area as I write this. Still has that bull-flag setup and think $60+ comes quick:

Still eyeing MASI for some calls into earnings later this month:

GPCR is back on watch with VKTX earnings and the GLP- space back in the spotlight. May look to add some calls for a move back over $50:

Will be eyeing ROKU, SPOT, and ISRG for some possible spec trades today.

And here is what I am watching: GPCR, MASI, AI, BURL, VKTX, SPOT, NFLX, SNOW, RBLX, U, ROKU. ALGN, CDLX, FVRR, TRIP, ADBE, IBM, TSLA, STAA, W, YOU, ALT, TWLO, ISRG, STAA, BIIB, GILD, AMLX, RDFN, Z, AI, TRUP, ULTA, RBLX, TGT, AVAV, EXAS, AAPL SQ, LRCX, LULU, LLY, and NVO.

Le's have a great day!

-JB

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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