Options Trading Newsletter - Blue Screen Day - Issue #175 [Options Today - Position Updates]
Blue Screen Day...
Blue Screen Day…
I didn’t give much thought when I saw the blue screen of death on a monitor at the airport last Friday. Little did I know that it was caused by an update issue from Crowdstrike, a cybersecurity company. They announced a system issue, leading to our flight being delayed. Over 8 million computers were affected worldwide, causing disruptions to air travel, banking, and other industries that use Microsoft operating systems.
Luckily, my flight was only delayed for about an hour. They proceeded to fly even though the check-in system did not work, and they had to manually tick the flight manifest. Not much of a security measure, but a few passengers decided not to fly due to concerns about potential issues in the air. We arrived safely after a short two-hour flight, but the problem continued into the next day.
We are all vulnerable to overdependence on a single system like Microsoft, which could cripple industries and the world economy if it shuts down or is attacked by malware. On the other hand, its ubiquity makes it indispensable, presenting a compelling investment thesis.
In today’s world, there are bound to be a few companies we cannot live without or are overly reliant on. Identify the products or services you use daily and consider investing in them. You can hardly go wrong by investing in something you truly believe in or have no alternative to choose from. Investing is not difficult if you stick to your personal core and consumption patterns.
SPX (5504)
SPX had a nasty week after hitting new high of 5669 on Tuesday and went down all the way hitting support at 5500. Nevertheless, it had crossed below the 21 days daily moving average and could continue into a short term correction. Things on the political side is getting more exciting for America and just after Trump’s assassination attempt, we got news of Joe Biden dropping off as the Presidency candidate. That gave some positive news to the futures market to open higher and take on some recovery from last week’s aftermath.
This week the GDP is expected to be announced on Thursday and the Core PCE on Friday. Together there is also a slew of big corporate earnings coming through which could lead the market for the next quarter. Starting off Monday with VZ, Tuesday Spot, TSLA, GOOGL, UPS, V, KO, on Wednesday, IBM, FORD, Thursday ABBV, HON and Friday 3M.
Trading range for the week is 5400 to 5600.
NDX (19522)
Another huge down week for NDX losing almost 4% as the megacaps continued to be sold off. The MAG 7 dropped by 4.7% for the week leading the NDX decline.
As seen above, Technology continue to be the biggest loser for the week. We could see NDX holding support at 19000 levels.
Trading range for the week is between 18800 to 20200.
HANG SENG INDEX (17417)
The weekly 50 MA is holding support for HSI. We are accumulating again at the levels 17400-17700, as long as it stays above the weekly 50 MA.
OPTIONS TODAY - BULL CALL SPREAD ON XLU
The trade continue to be in profits. We could potentially exit the trade if XLU goes above $72.
OPTIONS TODAY - WINNER IRON CONDOR ON XOP
The trade triggered the automatic exit at 50% profit.
OPTIONS TODAY - WINNER IRON CONDOR ON MSFT
Never say never till the fat lady sings. MSFT crashed again more than 1 SD last week and the trade turned from a loser to a winner. We generated a profit of 95% of the premiums.
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Options involve risk and are not suitable for all investors. Please read Characteristics and Risks of Standardized Options before deciding to invest in options: https://www.theocc.com/components/docs/riskstoc.pdf
MYstyework is an Online Financial Literacy Educator and materials provided is solely by MYstylework and is for informational and educational purposes only. It is not, nor is it intended to be, trading or investment advice or a recommendation that any security, futures contract, transaction or investment strategy is suitable for any person. Trading securities can involve high risk and the loss of any funds invested. MYstylework, through its contents, does not provide investment or financial advice or make investment recommendations. Investment information provided may not be appropriate for all investors, and is provided without respect to individual investor financial sophistication, financial situation, investing time horizon or risk tolerance. MYstylework is not in the business of transacting securities trades or an investment adviser.