Markets closed higher on Thursday, with the S&P adding .30% in a choppy session. Asia market fell overnight while Europe indexes are tumbling this morning with the DAX off over 2%. U.S. futures are pointing to a lower open as I write this, the Dollar and Gold are higher while Yields and Oil are lower.
And this is what UPB is reading this morning : https://www.optionmillionaires.com/morning-reads-224/
It was a roller-coaster session on Thursday, with stocks rallying at the open only to be pressured into the 3pm hour. Buyers came in after 3 and were able to push indexes back into the green. This morning futures are pointing to a rough open on renewed fears in the banking sector. The S&P is up .80% for the week and will need to find some support today to close the week in the green. The interesting thing is Yields have been falling, either implying a Fed cut or much lower inflation in the coming months. That $390 handle on the SPY held yesterday and looks like key support. Would want to see the SPY over that today or things may get ugly:
NFLX rallied out of the gate yesterday and I was able to get some weekly calls. The stock closed up over 9% and above $320. I added some calls after the open and used the move to close most of my position out for over 100, 200, and 300%. I held a few into today. Will need a big move today for the last of my calls. Think that $333 handle is coming into play at some point so may actually look to add some strikes into next week on weakness. The $315 area was a big break-out point yesterday:
I added some SPOT calls yesterday as outlined on the watchlist. The stock rallied past $133 and I used the move to close some of my calls out for over 100% to cover costs. Think it trades north of $135 in the coming days so may look to add some strikes into next week as well to play for that move:
AI closed up over 9% yesterday. I was able to flip some weekly calls out for over 100% and held some into today. This AI theme is not going away anytime soon and AI is a great way to play the hype. Think $30+ is coming soon so may look for some monthly strikes:
If markets roll-over today I may start looking at some SRS calls as a hedge. It is a 2x bear ETF on the Real Estate sector and think will offer a nice hedge if markets continue to fall:
Still eyeing MASI and CMG as well:
MASI:
CMG:
And there is what I am watching today: SRS, SPOT, BLK, SQ, MASI, NFLX, CMG, MDGL, SAGE, ULTA, ICPT, AI, YOU, DKNG, EXAS, U, SMG, TWLO, TRIP, RBLX, SPOT, AYX, GILD, and CDLX.
Let's have a great day!
-JB