Yesterday was somewhat flat day and closed slightly in the green. AAPL closed above 700 and GOOG nearing $720. Last night Japan announced an increase in their asset purchase program raising it to the tune of $1 trillon. Do not fight the central banks.
Folks continue to feel like we have reached a top in the market, I think we are just consolidating for the inevitable moves to $150 on the SPY.
What I am watching today:
CBRL – Cracker Barrel reported nice earnings this morning. Not raising outlook or anything but should see a nice move . Lookin at OCT 70 calls @ .30 and maybe Sept $70 calls as a lotto
BBBY - stock devastated on last earnings. Should be another volatile trade AH’s. Will look for my first straddle play with the 72.50 calls @ .31 or so and the 62.50 puts @ .45 or so.
AZO – will look for calls at the topen as I think BEARS will not win. Depending on where it opens I will find strikes 20-30 away
Positions I am still holding : SODA 42.50s/45 c | FOSL 95/100 C | MAKO 20/22.50 Sept c| ISRG oct 585 c | SFLY 35 C | LULU 70 P | WYNN 120s
Small list but will be nimble today. I think today will be the start of a 2-3 rally into the weekend. I will play accordingly.
SEE YOU IN CHAT!