AUGUST 31, 2022 UPDATE

 31 AUGUST 2022 UPDATE:

BANK OF AMERICA: 

1. SOLD PARA CALLS FOR NO GAIN/NO LOSS
2. SOLD CRWD PUTS FOR A LOSS
3. BOUGHT AND SOLD QQQ PUTS FOR A 100% PROFIT (DAY TRADE)
4. SOLD WMT CALLS FOR NO GAIN/NO LOSS
5. AVERAGED UAL 36 CALLS YOLOS

TD AMERITRADE:

1. BOUGHT DVN OCT 85 CALL FOR 138$
2. BOUGHT 2 DKNG OCT 17.5 CALLS FOR  254$
3. BOUGHT 1 TWLO SEP 72 CALL FOR 295$
4. BOUGHT FDX @ 211, NVDA @151, KKR @50.71, CRWD @179
5. CLOSED COVERED CALL POSITION IN BBBY; SOLD INTC STOCKS
6.         BOUGHT NKE SEP 23 116 CALLS FOR 82$ EACH

ETRADE: 

1. SOLD TWLO WEEKLY 75 YOLOS FOR A LOSS
2. SOLD AMBA, WEBR STOCKS FOR LOSS.
3. 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.