An Eventful Quad Witching Day

Happy Quadruple Witching Day! In anticipation of heavy trading, we took it easy and sized down. The volatility of Quad Witching Day can throw your risk management right out the window. We honored our stops and took profits at our targets — on a day like today, they can vanish as quickly as they appear.

SPY looked ready to flush as it broke the 460 level we have been watching for the past few days, but it turned out to be a fakeout with a quick reclaim. Lots of range on it today ... if you got long or short at any of our watchlist levels, you would have done great!

Taking a Ride in the TSLA

Tesla (TSLA) had a little morning squeeze. It appeared to be headed lower in the premarket alongside SPY, but at the open it showed significant buying pressure. We rode the volatility as TSLA offered long and short setups all day. The star play was on the 960 calls, which went from $1 to $9 at one point!

RIVN Tanks Early After Earnings Miss

Rivian (RIVN) offered us a clean short right out the gate due to an earnings miss. It flopped around below our 100 watchlist level before going into sell mode for the first half hour. If you grabbed RIVN 100 puts at open, you could have doubled your money. If you sold 100 calls at open you could have pocketed a cool $450 each. They quickly went to $25 — easy to buy back, or allow to expire as worthless.

WHO Authorization Makes NVAX Smell Good

Novavax (NVAX) offered some great range in the wake of its big WHO authorization. Lots of call buying for January ... this one is staying on our radar!

ROKU Squeeze, Followed by All-Day Trend

Roku (ROKU) gave us a bit of a squeeze — one of the few names that ended up in a great trend all day. If you got long off the 210 watchlist level (which was yesterday's low), the 210 calls expiring today went from $3.50 all the way to $25! Insane.