Options Trading Newsletter - Issue #191 - Options Today - WINNER Jade Lizard on TLT
Market Euphoria...
Market Euphoria…
The market is rejoicing and celebrating the Trump win which to them is pro-market. All the indexes went into new highs before end of the week, including crypto markets. As market euphoria does not normally last long, do take care of your positions and lock in profits where possible. We are coming to end of the year, and lets not break the clean report card.
ES (6025)
With the Trump win on Wednesday, the market went into overdrive gaining 146 points for the day and 276 points (4.6%). It broke past high of 5927 and creating once again new highs daily.
So far we do not see any breakdown in corporate earnings and most sectors are still positive. The new policies to be implemented by Trump when in administration early 2025, may be inflationary, especially on the impact on tariffs, tax cuts and immigration policies. But until then, enjoy the greens…
Watch for the ES to continue to trade above the upsloping red line. Any breakdown below may bring it back to 5900 levels.
Trading range for the week is 5950 to 6250.
NQ (21231)
NQ broke new highs and closed 1078 points (5.35%) for the week. On Friday, the rally seem to be paused with only 6.5 points up for the day. Of the MAG 7, TSLA is most bullish with TSLA up a whopping 72 points (29%) for the week. Elon Musk huge bet with his investment to openly support Trump is currently paying big time and we are yet to see if this can continue to pay.
With the current rally, the MAG 7 also reached new highs.
Watch for NQ to hold previous high of 20,983 to be able to move at its next trajectory for higher highs.
Trading range for the week is between 20400 to 22100.
HANG SENG INDEX (20728)
HSI reached our 21,000 target level and hit a high of 21,355 last week. On Friday, just minutes before close, it sold off after some release of the NCP Meeting stimulus data came out uninteresting for the market. It continue to go south after close in the futures market with more profit taking.
We too exited our longs on the rally up for profit taking too. However, we are still bullish on the market and would look for long opportunities. Today, the market traded sideways, with 20,200 holding support. We do see opportunities for it to stay above 20,500 levels this week and move on to 20,700 levels if it finds support.
OPTIONS TODAY - TRADE UPDATE BULL PUT SPREAD ON MCD
MCD closed further up for the week and that is positive for our trade. The trade quickly went into profits of more than 20% of the max profit just days into the trade. If it continue to run-up and hit 50% target mark, you may exit the trade for a quick profit.
OPTIONS TODAY - WINNER JADE LIZARD ON TLT
TLT fell down significantly after Trump won the elections as yield has spiked. But the price had quickly rebound thereafter. We closed the trade at more than 90% of the profit target with just one week to expiry.
OPTIONS TODAY - UPDATE IMBALANCE IRON CONDOR NVDA
The price action for NVDA on Friday, does not show that it is still in for much of the bullish run. However, we are short of time as the trade will be expiring within this week. If it falls but does not fall enough to get the trade into profitability. we might want to see of there are any rolling opportunities to give it more time to recover from the loss. It needs to drop close enough to the short strike of $132 in order to roll without paying a significant premium. Any additional premium paid on rolling will increase the max loss. While any premium collected will reduce the max loss.
We will just continue to monitor this for now. Earnings is expected on 20th before the expiry of the trade.
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