It is every theta and options traders' favorite day of the week, Expiration Friday. This is when weekly options come to do , theta truly kicks in , and pay day rolls on in. The market saw a lot of volatility yesterday, as the VIX rose 3%, MRNA saw over a 20% slide, NVDA gained 15% on met averse expectations and big tech made some gains.
Wall Street will be eyeing today's jobs report for October . A growth in jobs is expected as the unemployment rate should get to ~4.7%, which will be the lowest since March 2020. Fears over the Delta variant seems to have dissipated , as it was over hyped by the liberal media. I don't expect to much change to the market either way from this report, and expect the market to push higher to day to close the week.
#MRNA continues to slide, down 11% in the pre-market. Pfizer's oral treatment is showing positive signs, which is going to cut into 2022 COVID vaccine sales of MRNA. If yesterday is any indicator, MRNA could continue to slide further, breaking into a 430 range . Keep your eyes out here, as this could mean MRNA finishes the week into over sold territory, as it would break the lower range of the Bollinger Band.
#TLSA is starting to go sideways, but I still see growth coming into next week. I have already started to leg into next week, selling puts @855 strike price. I plan to look to close this weeks positions early so I can capitalize on higher premiums for next week.
#NVDA slightly pulled back yesterday after hitting a 52 week high @313. It is up another 2.5% in pre and we could see some more strength today. I have been long the underlying asset for a while now, and yesterday's rally was lovely. Be on the look out for a long play here , or even a credit spread as premiums are still high because of the associated Vega.
There seems to be a lot of opportunity in the market lately, as wild swings in big tech and Pharma continue. Wall Street Bets has been pushing a lot of stocks lately, so keep out for the next MEME stock push.