Markets closed higher again on Tuesday, with the S&P adding .28% in a choppy session. Asia markets finished in the red overnight while Europe stocks are higher this morning. U.S. futures are pointing to a flat open, the Dollar and Yields are higher while Oil and Gold are lower.
And this is what UPB is reading this morning: https://www.optionmillionaires.com/morning-reads-351/
Stocks ramped higher after the open and then chopped around for the rest of the session to close in the green. It was the S&P's 7th straight session of gains. After the close today we get earnings from DIS. A good sign the SPY has held its 50dma. Looks like a test of $440 is coming before the week is out then will re-evaluate:
I was a bit more aggressive yesterday:
TRIP soared after the open after a better than expected report. The stock started to give back some of the gains so I closed some of my calls for 50%. Once the sellers were done, the stock reversed course and retested $18. I went and used the move to close more of my calls out for 150%. I also went and added some Jan calls. Will likely hold my calls for a potential move to $20 or so in the coming weeks while using the $17.25 or so handle as a stop for my Dec calls:
TWLO rallied as well yesterday after a monster beat and raise from DDOG. I used the move to close some of my weekly calls out for over 100% and then added some calls into next week. Will look to close the rest of my weekly strikes today and then likely ride the rest into earning after the close with the risk they will be bidless on any miss:
I added some RBLX calls yesterday as outlined on yesterdays watchlist. I was planning to lock some in to cover costs into this mornings report but did not get an opportunity so held the calls(I posted an update on the twitter feed and in the chatroom). This morning RBLX reported a monster Q with huge YoY growth. The stock is up over 15% in the pre-market. Will look to close some of my calls out at the open to cover costs and ride the rest. Think a move to the mid-$40s is possible:
And lastly, I added CDLX calls yesterday as outlined on the watchlist. They will report earnings after the close. Hard for me to wrap my head around anything but a huge beat and raise. Will likely hold my calls into the close today:
Two of my recent favorites, YOU and FVRR, report. YOU actually reported this morning with a huge beat and raise - it seems that is all the company does - yet the stock tends to fade after the open. If it holds its gains I may look at some calls for a move into the mid-$20s in the coming weeks:
FVRR reports earnings tomorrow. It is another divisive name but I do think AI has been a boon for their business. May look to add some Dec strikes for a move to 430:
Still like EXAS here but will need to find some buyers soon:
Will likely keep things somewhat small today until I can scale out of some positions.
And here is what I am watching today: FVRR, YOU, TRIP, CDLX, RBLX, TWLO, EXAS, AAPL SQ, WW, MA. MDB, AZO, LRCX, LULU, ROKU, PPG, TZA, LLY, NVO, TWLO, AZO, ULTA, ORLY, NOW, SITE, MELI, ADBE, AVGO, WIX, OKTA, CMG, QQQ, BLK and TEAM.
Let's have a great day!
-JB