Old school trading on Friday, flipped a few straddles for some quick cash. I'm also sufficiently loaded on SVOL Sep calls; however, it appears as though those will be bricks thanks to Captain Self-Destruct, aka Trump who insists on taking a shotgun to the face of American exceptionalism and wealth. "Bold strategy, we'll see if it pays off" (it won't). I wouldn't say I'm necessarily buying the dip with that trade, as much as I am fading the vol spike.. however, the vol spike is not fading (bad sign). I think everyone is expecting Trump to do an about-face on his capital-destroying policies, but what if he doesn't? How much lower does the market trade from here? His policies will absolutely trigger a recession which will be terrible for many, especially the core MAGA crowd. However, it'll be a veritable gold mine for vol traders like myself.
Earnings season has essentially come to an end, which is good due to all of the other tradable angles going on now... anytime there's a market distortion, you'll find me trying to take advantage.
Yesterday AMC:
Today BMO:
Other News:
Follow through names to watch: AVGO, COST, HPE
GAINERS:
LOSERS:
Follow through watch:
Day before Y'day AMC: AVGO, BBAI, COST, GAP, HPE, IOT, SERV
Day before Y'day BMO:
Y'day Other News: IOT saw heavy put trading heading into #s, I think with Trumplestiltskin in office, it's every man for himself insider trading... Expect more to follow; GAP: +14% at 22.20; WBA: +7.5% at 11.40 on Sycamore deal; AVGO: +7% at 192;LUNR: -36% at 7.20 on lunar landing issues; HPE: -15% at 15.26; IOT: -8% at 38.48;
2 days ago AMC: MDB, MRVL, RGTI
2 days ago BMO: BURL, JD, KR, M
2 days ago other news: AVGO on watch for MRVL sympathy, also reports after the bell;
