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Morning Brief- MRNA, Inflation, and Rate Hikes- 12/3/21

Stocks were mixed yesterday as more and more news came out about Omicron. Early on, stocks bounced back again, as fears of the variant causing more shuts downs mitigated. However, in the mid afternoon during the bounce, we had another rogue Federal Reserve market manipulator come out and talk about increasing rate hikes even sooner. This caused quite a bit of a sell off later in the afternoon , causing stocks to shed positive gains. However, the market finished the day up strong. For next week, we will still see increased volatility as Wall Street keeps an eye out on inflation and covid news.

EUR/USD seems to be a possible strong play. The EUR continues to drop as the dollar becomes stronger and stronger. Europe has already had some countries close, and there are continued of more travel bans and shut downs with the new variant cases rising. This is all despite the growing evidence that there are truly no symptoms or mild ones. If this happens, the EUR/USD will continue to drop and a short play here could create a great return.

#TSLA has started to show signs of support, but also resistance, despite the bullish run yesterday. There could be a chance for a credit spread here next week as well as a strangle .

#SNOW ripped yesterday and continued to do so into close. I closed my calls and put on some short/theta positions yesterday at 372.50/375 strikes. I will continue to probably take this same position into next week, with a slight hedge to the upside.

#NFLX seems to still be in the danger zone of a downward hit. Last time it tanked like this, it spiked up the next week. However, I am looking at a put credit spread for next week. I am currently in a strangle as well as a put credit spread that is in the money on both sides

#GME similar to NFLX is flirting with a larger sell off. There could be an upside move as well, as it has shredded 60% of its gains in just over a weeks time. #MRNA is up 5% as pre after suffering major losses the last couple weeks. My shorts cleaned up as I kept staggering down as it kept dropping. Given the sell off, any major covid variant concerns or FDA approvals of new boosters could cause the stock to rise. I think a call credit spread is the play here as well as a long/theta play with lower strikes as well.

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