Markets closed mixed to start the week, with the S&P and Dow closing slightly higher while the Nasdaq closed in the red. Asia markets also closed mixed overnight while Europe indexes are higher this morning. U.S. futures are pointing to a bounce, the Dollar is higher while Yields, Oil. and Gold are all lower.
And this is what UPB is reading this morning: https://www.optionmillionaires.com/morning-reads-211/
Stocks opened in the green on Monday, hitting highs at the noon hour, only to find pressure into the close with indexes closing mixed. The outlier was the small-cap index which fell over 1%. Today is the start of Powells testimonies in front of Congress. Would be surprised if there is any commentary that surprises markets, though something to be aware of. As always, these testimonies are usually just opportunities for politicians to puff their chests and ask loaded questions - almost like watching a daytime soap opera. Would be a good sign here if markets can hold the pre-market gains and the SPY can work on testing yesterdays highs around $407:
TNDM rallied out of the gate yesterday. I used the move to close some of my $40 calls for over 250% and my $45 calls for 600%. If TNDM can clear $46. think the low/mid $50s are possible. Will look to lock more profits in on the way up and hold the rest for that possible move:
I added some inexpensive CMG calls yesterday for the eventual $150-$200+ move that CMG tends to have after hitting multi-week lows. That 50dma is right there at $1532 so would want to see that level broken today:
YEXT reports earnings after the close today. The company has a history of disappointing. Any flip in the narrative and the stock is $10+. Already locked some of my May strikes in and may look to close more before the close while just holding the March strikes:
TWLO had another solid session yesterday, holding the gains from the previous two days and remaining over its 200dma. Still holding the last of my March 17th $81 calls and may look for some other strikes to play for a possible move to $90 in the next week or so:
ULTA reports earnings after the close Thursday. Target just reported a better than feared report and think that bodes well for ULTA. The stock also tends to have some outsized moves after it opens the day after earnings so may look for positions before and after earnings. A decent report and this trades $550+:
And this is what I am watching today: ULTA, MASI, CMG, ICPT, YEXT, AI, ULTA, YOU, DKNG, EXAS, U, SMG, TWLO, TRIP, RBLX, SPOT, NFLX, AYX. CMG, ROKU, GILD, CDLX, SAM, IBM, SQ, ZYME, ICPT, ALGN, and GNRC.
Let's have a great day!
-JB