2/10/25 Recap

The SPY continues in this downtrend it has been in. You can see this series of lower highs continue, it is a weird one because we just stay over the 8 ema so nobody is really bearish but you’re not seeing enough willing buyers to propel us higher. This week we have CPI on wednesday which should give us a clear direction but otherwise we’re just in limbo for now. How far are the tariff wars going? What is next after megcap earnings? What is our next big catalyst for a market still trading historically on the pricier side. I really don’t know but from a technical standpoint we are ok for the time being.

Recent Trades

MBLY - There were so many to discuss today that I had highlighted recently with BP getting an activist, that insane move on TTWO friday, but this MBLY risk reversal 2 days ago is the big one. I wrote it up here on 2/6 and I mentioned it being a really savvy trader just from the structure of it. That isn’t the type of move you place just randomly and this morning we got news LYFT will be launching robotaxis powered by Mobileye and the stock popped 16% as of right now. Impeccable timing from whoever placed this and adding those short puts to the call spread really amplified the returns.

My Open Book

You’ll notice I put a ton of trades back on today. Lot of margin I had tied up last week with META short puts rolled off and I was able to add many things. So let’s talk about them one time.

I went with an approach of mostly selling puts where I want names. What I said friday is what I really feel about this market, we’re going to be choppy and mostly flat/down all year. We have gone nowhere in 3 months now. I sold some weekly puts on META which I think is our leader now below the 8 ema, names in strong uptrends should not break that. I also followed some put sales you’ll see in my table below today on names like LNG,ZI,ALB but then I also sold puts on hot names like BABA,UBER way lower in and further out hoping to ride the wave higher and close up. Other names like OXY,NKE, INTC and WYNN I sold puts at levels where I think they’re just deep(er) values. SHOP from this weekend’s best idea I couldn’t buy the calls I wanted because it gapped up 3% so I just went ahead and sold the puts. Am I using leverage, yes, is it right for me? Sure I know what I’m doing but no I do not suggest you go off and use leverage unless you’re fully capable of monitoring your book constantly. Basically I don’t like where we are in the market, I’m just going to lever up and make money hopefully waiting for something to come to where I want it. But here is my open book….