31 AUGUST 2022 UPDATE:
BANK OF AMERICA:
- SOLD PARA CALLS FOR NO GAIN/NO LOSS
- SOLD CRWD PUTS FOR A LOSS
- BOUGHT AND SOLD QQQ PUTS FOR A 100% PROFIT (DAY TRADE)
- SOLD WMT CALLS FOR NO GAIN/NO LOSS
- AVERAGED UAL 36 CALLS YOLOS
TD AMERITRADE:
- BOUGHT DVN OCT 85 CALL FOR 138$
- BOUGHT 2 DKNG OCT 17.5 CALLS FOR 254$
- BOUGHT 1 TWLO SEP 72 CALL FOR 295$
- BOUGHT FDX @ 211, NVDA @151, KKR @50.71, CRWD @179
- CLOSED COVERED CALL POSITION IN BBBY; SOLD INTC STOCKS
- BOUGHT NKE SEP 23 116 CALLS FOR 82$ EACH
ETRADE:
- SOLD TWLO WEEKLY 75 YOLOS FOR A LOSS
- SOLD AMBA, WEBR STOCKS FOR LOSS.
- BOUGHT SEAS (STOCKS) @ 51.25
BIG GAINERS: CHPT, UPST
THOUGHTS ON MARKET: CHOPPY, HUMP DAY ACTION. MARKET IS STILL TRADING BASED ON LAST FRIDAY COMMENT FROM POWELL ON 4% INTEREST RATE RUNNING TILL END OF 2023. MARKET HAS TO WAIT FOR JOB NUMBERS TO PUT A DENT IN FED WISH LIST. IF UNEMPLOYMENT THREATENS TO GO ABOVE 5% AND INFLATION COMES UNDER 7% - MARKET WILL OVERLOOK FED’S COMMENT AND CONTINUE WITH THE YEAR END RALLY. HOWEVER IF JOB #’S ARE STRONG AND INFLATION STILL HIGH - THATS BAD NEWS FOR MARKET. MARKET IS STILL RANGE BOUND - IN MY OPINION. FROM 362 TO 431 WE WERE OVERBOUGHT ON AUGUST 16, BUT FROM 431 TO 396 - WE ARE COMING IN THE TERRITORY OF OVERSOLD AND A BOUNCE IS DUE EITHER THIS FRIDAY (AFTER JOB REPORT) OR NEXT WEEK.
