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Morning Market Brief: BBBY continues to soar- 8/30/22

Markets are up in pre, as recovery from the massive sell off gains some ground after passing through VWAP. Housing data comes out this week, which will show a slowing in house purchases, increases in mortgage rates, and the possibility of a 25% correction if the economy continues to lean towards a recession.


TRADES:


#BBBY: Is up another 10% in pre-market and is set to release their forward strategy. A straddle could be good here ,as the sigma movement will be high after this news. I went long calls here early yesterday and will continue to add on


#TSLA: Continues to trade within range, finding support yesterday at ~280. I sold puts on the drop and have a credit spread on here as well. I will most likely add on shorts here at ~320 strike


#AAPL: Dropped below ~160, before finding support . It is pushing to ~163, and could look to push to ~165 if it breaks the ceiling today


Keep your eyes out for a quick break downward as the market hits key ceiling metrics.


 


NSTAGRAM: day trading_traveler






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