January 12th, 2023 Watch List

Market rallied on Wednesday, with the S&P closing up 1.28% and is now up nearly 2% on the week. Asia markets closed mostly higher overnight while Europe indexes are in the green this morning. U.S. futures are pointing to a higher open as I write this, 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-177/

Stocks gapped higher yesterday and were able to hold the gains - finally. The SPY broke and closed over the 200dma for the first time since early December. This morning was all about the December CPI read which came inline with expectations. Futures reversed course after the release but think stocks will find a bid today. By the time the inflation narrative has shifted, markets will already have priced that in. Tomorrow kicks off the Q4 earnings season which could also help provide a short-term boost. Think SPY $400 is coming and possibly $410 before the next pull:

I closed the last of my GNRC $110 calls for over 200% and went and added some higher strikes. Think this can trade north of $120 in the coming days but wanted to lock in profits and add some lotto strikes just in case:

RBLX rallied again yesterday and I used the move to lock more of my calls in for nearly 200% and add some Feb strikes. Think this is on a crash course with $40+ in the coming weeks. They also should be announcing earnings sometime in the fist week or two of Feb, which should add some premium to my calls:

U added another 4% yesterday and I closed more of my calls out for over 700%. I also went and added some Feb strikes. As I have been mentioning the past few days, think $U will embark on one of its $10-15 multi-day rallies. Will look to close the rest of my Jan strike today and hold my Feb strikes for that potential move:

TNDM and ISRG both updated their guidance. TNDM's numbers were actually above expectations yet the bears came in and sold the stock off. ISRG's was more inline and it sold off as well. Will need some big moves for my calls to come back to life.

SQ is churning nicely and think it is headed back into the $80s and beyond in the coming days. They will report earnings likely in the first week of Feb. Will look to close some of my calls out before the report and hold the rest into earnings:

AXSM is down nearly $15 in the last few weeks on no new news to speak of. Their earnings on Feb 6th will be a catalyst. May look to add some strikes today to play for a move back over $70 into the report:

Still having issues with analyst changes, hopefully fixed tomorrow.

And this is what I am watching today: EXAS, MASI, UDMY, NFLX, SQ. AXSM, CME, ICE, BLK, SPOT, GNRC, VKTX, UDMY, RARE, SAGE, ALGN, IBM, CMG, and ROKU.

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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