Before I get into the market, I just wanted to give an update. Starting tomorrow, I will be traveling for a couple months. I will be starting my trip in London and then going to new countries/cities on an ad hoc schedule. This means that I will be doing lighter trading and will be focusing my posts mainly to my travel blog and vlog section of this site, which if you haven't checked out is part of the full topics of this site. My goal is to to teach you how to day trade and invest so that you can gain financial freedom to travel and work anywhere. Secondly, for those that are in the UK/EU area, I will be doing pop up trading shops in the city where you can come in and discuss trading topics, learn some tips, and I will also be doing live trading coaching. Hit me up info@daytradingtraveler.com or my social media/discord .
The market is slightly up following the Christmas weekend, with the NDX leading the way in the futures. The week after Christmas is usually pretty sluggish, with trading volume decreasing by about 30 %. Surprisingly, the VIX is up 5% in the pre-market, which might signal more hedging as Omicron restrictions continue to pop up. This could have been caused by the Airlines influence, as more and more flights were canceled , close to early pandemic levels, as staff and demand decreased amid the new variant. Honestly, this worked out in my favor, as I got my Business Class trip to London on the cheap. But it could signal increased pressure by countries to continue to lock down during the winter.
Strategies:
Given that I will be traveling I will most likely keep my weekly positions pretty light, focusing on theta/long plays here on big chip stocks like AMZN, GOOG, TSLA , NVDA hoping for some decreased volatility . I will pop in for some scalping during the day/night as I will be a late schedule with the time difference. I might hop into some commodities as that will work better with the change in time zones. My goal week on week is to just keep the risk to a minimum while trying to make 2.5-5k a week. I also will be playing a lot of poker, and possible jumping into some EU WPT tournaments depending on my schedule. So follow my social media for that and I will post some vlogs on it.
#AMZN: Currently long/theta here selling puts on Friday I will continue to add on, but the increase in margin per contract might keep me away.
#NVDA: Will probably add long/theta plays here as the stock continues to flirt with the ~300 resistance point. If it does crack the ceiling, then the stock could be off to ~340 again, where I will try to leg into some long calls to scalp.
#TSLA: Continues to show strength, up another 1.41% pre. I went long last week and we capitalized nicely on a 14% day on day increase into close Friday. I believe the stock is still in its bullish trend, and will most likely be scalping calls here. If I am stuck on screen time, I will probably so a very wide call spread here , heavy on the long delta side.
#SNOW: Has been stuck in a nice range as of late, we made a nice strangle last week on it as we continued to taper down . I will probably go long/theta here selling puts, but could look to do a call spread or a strangle depending on how the stock moves today.
#MRNA: Still looks like a continued short, as the stock has no support and keeps free falling. Could look for a naked put scalp here, going short.
#GME: Another stock where momentum has waned. The premiums were pretty high early last week, and I might go short/theta here selling calls, depending on how the premiums look today.
That is pretty much all I have working today, as my time is limited packing and preparing for my trip. I don't want too much risk as I travel, but luckily I did book an overnight flight on Tuesday, so I will be up and working by trading hours hopefully .