Markets closed higher on Monday, with the S&P finishing up .24% to put an end to a 3 session losing streak. Asia markets closed mostly higher overnight while Europe indexes are in the green this morning. U.S. futures are pushing higher, the Dollar and Yields are lower while Oil and Gold are in the green..
And this is what UPB is reading this morning: https://www.optionmillionaires.com/morning-reads-283/
It was a decent session for stocks to start the week, bouncing between gains and losses into the noon hour before finding buyers in the close, with the S&P finishing at highs. The SPY closed just under that $440 handle. Would like to see a break and close above that area today into tomorrows key CPI data followed by PPI data on Thursday:
I added some EXAS calls yesterday, as outlined on the watchlist. The stock closed up nearly 5% and I was able to close some of my position for nearly 100% to cover costs. Will likely look to take a few more off today then hold the rest for a possible break over $100 in the coming days:
I was finally able to close some CALX calls for 100% yesterday to cover costs as the premiums remain high into earnings next week. I will likely hold the rest for now. I do think CALX trades north of $55 soon:
SSYS traded up over 8% yesterday as NNDM raised their buyout offer to $24. As I have been saying for weeks, think these bids are a good thing for SSYS and I think this new offer will be spurned just like the others. I may start looking for some later dated calls to play for the move into the mid-$20s in the coming weeks. Should trade there even without a buyout:
Longer-view:
FVRR will need to break that 50dma soon for any chance for a move into the $30s in the next week or two:
Don't look now but ROKU is showing some relative strength and the MACD is about to undergo a bullish crossover. It is rare that ROKU holds morning gains, so could be a sign a multi-day run to new 52 week highs is coming. May look at some calls today if it holds gains after 11am or so:
Likely will not be overly aggressive today. I feel like any hotter than expected inflation number tomorrow could spook the markets - I am hoping that will not be the case and the CPI comes cooler or inline with expectations. If not, would think markets will pull back 1%+...
And here is what I watching today: ROKU, SSYS, CALX, GLL. GLD, SPOT, ISRG, FVRR, BJ, ALGN, ANET, CALX, FVRR, IBM, CMG, Z, ULTA, ROKU, DPZ, YEXT, AMD, LRCX, MU, NFLX, QQQ, ZYME, AXSM, SAGE, RARE, SRPT, and BLK.
Let's have a great day!
-JB