October 4th, 2022 Watch List

Markets soared to start the week, with the S&P adding 2.59%, reversing multi-year lows. Asia market closed higher overnight while Europe indexes are in the green this morning. U.S. futures are pointing to another green session, the Dollar and Yields are lower while Oil and Gold are higher.

Stocks are pointing to a continuation of yesterday's rally, with the S&P set to open over 1.5% higher as I write this. This weekend's market crash headlines are now replaced with Fed Pivot headlines, where the market is starting to price in a more dovish Fed. Funny how it works... these headlines are such lag indicators. Q3 earnings season will kick-off in a week and likely the next catalyst. Hopefully the SPY can regain the $370 handle today and may set up for a constructive bounce to $380:

With the market finding a bid, I added PTON and ROKU weekly calls.

I have a always loved the PTON story and think at some point the stock will stage a major reversal. Yesterday Hliton announced PTON will be in all the gyms at their locations... huge news IMHO. I went and added some calls yesterday and may look for some other strikes to play for a move back over $10:

I also went and added ROKU calls yesterday, Still think the company performs well even if we are in a recession. Recessions don't stop people from watching TV. Either ROKU gets bought out soon or trades north of $90 in the coming months. Will continue to look for other call opportunities:

APRN tumbled yesterday on news of another possible $15 million in dilution. Folks are trading it like it is a zero. Still mind boggling to me. Not going to add anything here just yet but if it finds footing back above $4 may look at more later dated strikes

Also still watching TWLO, SPOT, and U for some calls.

Here are the analyst changes if note for today:

Illumina upgraded to Outperform from Market Perform at SVB Securities
SVB Securities analyst Puneet Souda upgraded Illumina to Outperform from Market Perform with a price target of $270, up from $220, following the company's analyst day event. The NovaSeq X+ debuted last week should become "the instrument of choice" as both clinical and research end markets pivot to whole genomes, said Souda, who also sees the divestiture of Grail looking likely based on pressure from regulators and commentary from management at the event.
Rivian Automotive's affirmed FY22 production outweighs Q3 shortfall, says Truist
Truist analyst Jordan Levy keeps his Buy rating and $65 price target on Rivian Automotive, saying that while the company's Q3 production numbers missed expectations, the affirmed FY22 target is the more important component of the release. The affirmation is seen as providing "incremental comfort" in Rivian's ability to increasingly navigate the challenging supply chain backdrop, the analyst tells investors in a research note

RealReal may be target for acquisition after Poshmark, says Needham
Needham analyst Anna Andreeva keeps her Hold rating on RealReal (REAL) but speculates that the company could be an acquisition target following the Poshmark (POSH) buyout announced last night. RealReal has had an interim Co-CEO structure since founder Julie Wainwright stepped down from her role as CEO, and it could be a target of a larger retailer/brand looking to enter resale space, the analyst tells investors in a research note

And here is what I am watching today: TWLO, SPOT, U, ROKU,, TZA, GNRC, WYNN, BIIB,, WIX, BJ, U, LVS, ICPT, CI, CMG, HUM, TRIP, SAGE, and PTCT.

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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