Recaps are a review and commentary on the morning watchlist. Recap comments are in blue.
If you are having trouble with trading options, figuring out trades plans, choosing a broker, reach out and ask for help. Send me a msg in discord or twitter.
Good morning. Totally not trade related but just a reminder if you want to change healthcare plans I believe the deadline is coming in the next couple of days.
Be sure to read the recap if you haven’t yet.
Check out how to find premarket gappers using black box stocksÂ
General market thoughts
I think we are in sideways chop. Hard to get a strong lean in either direction. Overall market is continues to be in a delicate spot and struggling to move over 270. I had too much long bias yesterday and I got hurt on a couple of trades on it. I’m short biased as long as UVXY remains over 60.
We did start seeing some call flow yesterday come in indicating money is starting to take on some risk again and anticipating a rally into January.
SPY
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265 and 268 are the key levels I'm watching, if we reclaim 268 we might get the push into 270+ I was looking for and if we break 265, more downside. I think we got spoiled with the big 7-10pt days that trading and planning for 3pt moves has become more difficult.Recap
We broke 265 so and are gapping down in ah/premarket. Got chopped a couple of times on the short. Hate being right and red. [/vc_column_text][/vc_column][/vc_row]300-600%
XPO
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Recap
Alerted in discord that short report was out. the 57.50 puts on that alert went from $2 to $14 at peak. I alerted exits at 7 and then scalped in and out with final alert in 51-52 area that buy volume is coming and done with shorts on it. Great all day seller! [/vc_column_text][/vc_column][/vc_row]AAPL
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Eyeing with marketRecap
[/vc_column_text][/vc_column][/vc_row]MSFT
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Eyeing with marketRecap
[/vc_column_text][/vc_column][/vc_row]TSLA
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Another upgrade. Looking for profit taking on gap up on open and then dips to go long. If volume comes in and we hold over 370, I may chase some long for that 380 test/breakout for 400.Recap
Another situation where I got long but the chop took me out. [/vc_column_text][/vc_column][/vc_row]CORT
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Watching fo 16.50 - 17 level to hold, if it does, we could get a sharp move back upward.Recap
no trades. basically it based and held. [/vc_column_text][/vc_column][/vc_row]NBIX
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failed drug trial. Looking for a push(72-75 levels) and failed momo to get some 70 puts if cheap enough. may even yolo 65 puts.Recap
Great read for short, but not enough selling to be worthwhile on the options. [/vc_column_text][/vc_column][/vc_row]GE
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Ripping on buy upgrade in premarket. Maybe a bottom has finally been put in. Will be eyeing for profit taking short and then possible flip long. There is def potential for a short squeeze here.Recap
Nice squeeze and move, but the push failed. Had nice gains on calls but those went red. [/vc_column_text][/vc_column][/vc_row]Earnings Action
TLRD
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Nailed short entry on this in ah yesterday and dumped well beyond by targets. Grabbed some long at 14.80 but so far this is not gapping over 15 like I was planning so probably cut this. Overall I'm long biased on dips but if this continues to meet heavy selling, I may join a short for .50-1 gains.Recap
Nice alerts for the sells into 15.20/15.30 and flip short for 14 target. [/vc_column_text][/vc_column][/vc_row]China names
not watching today
Pot names
Given Farm Bill passage, back on the watchlist. Watching for possible runs and then trend fails.
NBEV
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Looking for 6.60 area to hold and if it does we may see a run up into 8 bucksRecap
[/vc_column_text][/vc_column][/vc_row]TLRY
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Watching dips, there was some 90 call flow for this weekRecap
[/vc_column_text][/vc_column][/vc_row]CGC
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Watching for a break out over 33Recap
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