August looks to close out another positive month for the market. Historically, August has been a month of downswings. I expect another bullish day today, and the pre-market is already up. I don't expect too many curve balls today. We are going to see more volatility in AMC and GME today, while SPRT is seeing a downswing as profit taking continues.
Economic Releases: Today we have some major reports coming out. We have the ISM manufacturing index, PMI Manufacturing Final, and the APD Employment report. I expect some good numbers here, and you could see a nice boost to the market when these reports come out .
#GME: We still hold a long position here with our call, and it looks like GME is up again in the pre-market. It looks like it is poised for a big move either late this week or next, so might leg into a call spread next week. We still are short/theta here selling 450, 370,340 strike calls here. I have a nice middle ground where we can make a huge gain on both sides sweeping all the short/theta plays and making money on the call I bought.
#AMC: Still have a naked long position here, with a calls at the 44 strike. I expect more bullish upside here, and I plan to make a similar play as on GME, and take a more aggressive long position next week or add on today.
#DASH: I see support for dash at 190 , and I still have more long/theta plays on that I added yesterday, and I will continue to monitor.
#MRNA: It looks like Moderna has shaken off the sell off for manufacturing issues and I see support here at 375. I will continue to watch but I don't plan to change much of my position .
#TSLA: Unless Elon Musk has some wild tweet, I don't expect much to change and it to trade sideways or keep within the squeeze range.
Overall, I don't see many swings besides the #memestocks and I will mostly just monitor and add a few pieces for next week. I have a lot of options that I sold already close to 0, so mid-week gaining 100% return already on these trades.