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Market Brief: Current Positions and Strategies

The market finished strong Monday, rallying over 1% across the board, with the S&P hitting new highs again. This rally shook off last week's sell off, and will continue to gain momentum the rest of the week , barring any covid craziness from the government.

Pre-market the Dow , S&P, and Nasdaq are all up over 1%, with the Nasdaq leading early morning future gains at 1.72%. This is good news for our current positions, which I will go over with shortly . This rally indicates dissipating fears over inflation, the covid variant, and interest hikes. This rally should continue to the end of 2021, and we will continue to be long until sentiment changes. The big concern on the horizon could be global geo-political risk as tensions heighten between the US , China and Russia. Lack of strong leadership has put Ukraine and Taiwan in vulnerable positions, with possible military escalation to come as both Russian and China seek to invade the countries. This is no surprise given Biden inapt ability and lack of mental capacity continue to put the world into unprecedented risk. If we do see military action, we could be facing a quick market collapse and global economies are already teetering on the brink of a depression given global covid policies.

#AMZN is up 1.75% in pre as the stock continues to show bullish trends throughout the month. I am long/theta here , selling 3,000 strike puts. I will continue to taper up the position throughout the week.

#DASH showed signs of a bottom yesterday and is up 4% is pre market. I have a long/theta position by selling 140 Strike puts, and a long position of purchased calls @167.50 strike. I have a lower delta strangle/credit spread created by selling @177.50 strike calls , which I can unwind if needed.

#GME continues to show support, but the option call premiums continue to be way overpriced, I have a long position with purchased call @180 strike. I have a more delta heavy credit spread to the short side, as I have sold @380 calls, @290 calls on the over priced premium. I have a great middle here.

#MRNA has been getting hammered, and I have sold calls for a short/theta position here.

#NVDA is back up 4% after a low down swing yesterday, which was recovered quickly later in the day. I am heavy long here have sold puts for a long/theta positions @240, @250 strikes, with a purchase of a @315 call here.

#NFLX found a bottom as well, and I am heavy long/theta here selling @560 puts, and purchasing @620 calls. I have some of a middle credit spread here, as I sold some calls for a short/theta hedge @650 strike.

Overall , I really like where I am today on my positions. Remember to subscribe, follow my instagram @daytrading_traveler and join the discord @daytradingtraveler, to get live updates.

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