Markets closed mostly lower on Tuesday, with the S&P losing .21%. Asia stocks closed mixed overnight while Europe indexes are solidly in the red this morning. U.S. futures are pointing to a lower open. the Dollar and Gold are lower while Yields and Oil are higher.
And here is the last rant if you missed: https://www.optionmillionaires.com/afternoon-rant-3-10-2026/
It was another rocky session for markets on Tuesday. Stocks chopped around in the green for most of the day as Oil prices eased. Around 1:10pm the U.S. Energy Sec. tweeted that the U.S. had escorted an Oil tanker through the strait of hormuz. Oil tanked to $76 and markets added to gains... the tweet was then deleted and the report was denied. Oil then rebounded and markets pulled back with the S&P closing in the red. After the close ORCL reported a great Q posting its first earnings in over 15 years of 20% top and bottom line growth. They also said they don't expect to need to tap the debt markets to fulfill their current deals. Needless to say, a relief quarter. CPI data came out this morning and was completely inline... a non-event. Finally. That $677 handle in the SPY continues to be a magnet. Another day of chop and hopefully can put that area in the rearview mirror:
GLW rallied again on Tuesday, closing up another 5.5%. I think it keeps heading higher but nothing is certain so I used the move to close most of my calls out to cover costs and lock in profits with the last batch out of 185%. GLW was over $140 overnight but has given back the gains this morning. Will likely continue to be volatile. I may look to nibble some far out of the money calls on any weakness as discussed on the rant:
SERV! SERV reported earnings this morning that bested estimates while also raising guidance. It was a monster Q all around. Will have more details after I hear the CC and go through the 10Q. Like I have been saying, feels like we are in an 'earnings don't matter' environment so who knows how it trades. It spiked $1 after the report and over $11 but has been slowly melting. With the 27% short interest these bears are going to make it a tough battle. If the bulls can win, this can be the start of a 50%+ rally. If not, then this stock maybe toast for the near term. I hope not but have to be open to that possibility. If it breaks and hold $11 in the morning I will look to add some more strikes:
I finally added some lotto SE calls. Think the Asia market may catch fire soon and ahead to the Trump/XI meeting at the end of the month. Trying not to catch a falling knife here so keeping things VERY small until it finds some support. Don't be surprised if I add more lottos on support today:
It has been months, but I am finally back in BIDU calls. China exports pulled off another great month and again, TRUMP/XI meeting at the end of the month could be a catalyst. BIDU is lower in the pre-market. Likely will just hold the calls into next week. The Barron's article BTW:
CRBP and ALMU are names I keep looking at for some possible spec calls. Think these names can go regardless of the market, which I think is a good thing in the current environment. ALMU for a move north of $20 and $CRBP of a move to $15+ in the coming months:
And like I have been saying, will keep things small and open to both sides of the tape.
And heer is what I am watching today: CRPB, ALMU, ORCL, SE, RDDT, LMND, GLW, SHOP, ANET, RBLX, RH, LMND, HTFL, AAOI, ROKU, POOL. V, MA, ZM, SEDG, WING, SHOP, SQQQ, MRNA, DUST, FLWS, COCO, POOL, RH, SG, LMND, NKLR, COIN, KODK, MDB, MSTR, BIIB, INTU, WMT, HD, ZS, TERN, and SQQQ.
Let’s have a great day!
- JB