It seems that all of Wall Street has begun to call a market pull back , aiming at 10% as of late. As the delta variant continues to hinder business and travel, the market sentiment continues to grow bearish. Top that off with recent earnings all signaling for lower expectation earnings and a looming debt ceiling in the US, things are really trending toward a pull back. Internationally, China continues to hammer its crackdown on businesses, now targeting Alibaba owner's new payment/loan company, signaling a continued interest in the Communist county in taking over and mitigating private ownership. Things definitely seem to keep adding up to push towards a bubble burst. However, with our weekly option strategies, we will continue as usual , possibly with a bit more hedging for a downward turn.
Current Positions:
#AAPL: Pulled back on Friday as the court finally settled its dispute with Fornite creators Epic Games, where AAPL scathed passed anti-trust laws but was still found to have broken fair business practices. AAPL will release its new phone and other products today, trending towards a bullish upside.
#AMC : AMC has continued upside potential, as the overall short positions will continue to have to cover there positions in this squeeze. I have bought 52 strike calls on Friday, and sold out 70 strike calls, creating a nice middle position here for my bullish outlook
#AMZN: Still bullish here, selling out Sept 17 puts strike @3195
#DASH: As the delta variant persists, dash continues to be bullish . Sold puts for a long/theta position at staggered stakes @185/187.50
#GME: Has turned great bearish, and I legged in early last week . I already covered my 400 strike short/theta position on Friday and continue to hold my other short sold call @300 strike price point.
#GOOG: Had a sell off on Friday with the AAPL settlement, but I am still bullish as GOOG continues to trade in range with upside, I have long/theta plays, selling puts at staggered strikes @2670/2700/2580
#MRNA: Still extremely bullish on this stock, and I will keep an eye out to add calls to this positions. Currently long/theta selling staggered strike puts @355/360/365, with a small hedge selling calls/theta @560 strike
#NVDA: Still very bullish on NVDA and have a strangle here but heavier on the long side selling staggered puts with strikes @201.25/206.25 and a short/theta selling calls at 232.50. I will look to unwind my calls at a 230 stock price point.
#TSLA: Premiums have continued to rise as the stock values more implied volatile . I am extremely long /theta here selling staggered puts at strikes @ 580/590/600/605/645 with a strangle hedge , selling calls @830 strike.
All of these positions were put in last week, starting Wednesday , with additions Thursday/Friday. I will continue to add and adjust as the market moves.