July 31st, 2023 Watch List

Stocks rallied oil Friday, with the S&P adding .99% and ending the week up 1.05%. Asia markets closed higher overnight while Europe indexes are mixed this morning. U.S. futures are pointing to a slightly higher open as I write this. The Dollar, Yields, and Oil are higher while Gold is lower.

And this is what UPB is reading this morning: https://www.optionmillionaires.com/morning-reads-295/

Stocks recouped all of Thursdays losses, to end last week up 1.05% and closing higher for the 5th straight week. Today is the last session of July and markets will try and make it 5 straight months of gains for the S&P. No-one was calling for this 5 months ago. A nice tweet here on how markets fair after getting off to a great start:

The top 15 performances by the S&P up to this point(143 trading days) all ended the year solidly in the green with only 4 of the years showing losses into the end of the year. Bodes well for 2023 pending any crazy black swan event. Its another busy week of earnings lead by Apple and Amazon after the close Thursday. I will have the implied moves posted up later today. The pull on Thursday was mostly caused by a surprise report that Japan is open to start raising rates, which in turn helped spur yields in the US. Certainly something to watch going forward. It was a nice churning week for the SPY trading between $451 and $459 all week. Think only a matter of time before that $460 handle is tested:

It is a big week for names I am holding, as most report earnings. YOU and TRIP report on Wednesday while TNDM and WW will report Thursday:

YOU had a great start to the day Friday, only to give back all its gains and then some after a negative piece from Bloomberg came out. Bloomberg claimed there are flaws in CLEAR's check-in process and that the TSA was investigating them. CLEAR responded Friday morning, rebutting the piece. Should be interesting how this is addressed on the conference call. I fully expect a big beat and raise but if they can't alleviate concerns, the stock will likely struggle. If they can, stock heads over $30 in short order:

WW reports Thursday. Think any inline numbers will send the stock or any positive update on members, which have been in decline for years. Their acquisition of Sequence may alienate some folks, but it also added a new path for new members, so will be key to hear that side of the business as well. Of course, disappointing numbers and updates will send the stock back into the $9s. Already locked some October calls in and will likely hold the rest of my positions into the report as a high risk/high reward setup:

TNDM also reports Thursday. DXCM reported a great Q last week and bodes well for the entire sector. A decent Q from TNDM should send it over $40. Will likely just hold the rest of my August strikes and revisit Friday:

TRIP reports Wednesday after the close with a 10% implied move. Still holding my Sept strikes, though was hoping to take some off before the report. Beat and raise and the stock is over $20. Anything other than that and the stock either festers in the $17-$18s or drops back to $15:

Love this DOCU setup with a potential Golden-cross setting up for this week. Once $53.75 or so breaks, it is blue-skies to $60+:

TWLO is back on the radar. It rallied last week on news that they extended their partnership with AMZN and there was also reports AMZN added to their stake, but that turned out to be false news as AMZN has always had an over 1% stake in the company. If it holds $65 at the open, I may look to add some weekly calls to play for a move over $70. They report earnings next week so premiums make it tough to trade on a risk/reward basis:

And here is what I am watching today: TWLO, DOCU, . TNDM, WW, SHW, BIDU, ALGN, ISRG, YOU, FVRR, ANET, ULTA, SSYS, ROKU,  BLK, TNDM, Z, ANET, IBM, NFLX, QQQ, AXSM, and SAGE.

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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