7/10 Recap

Before I get into this recap I want to say something that has zero effect on anyone subscribed now. Basically Substack has launched this new thing called sidestack that integrates your substack with your discord, but it can only do so for 1 subscription, so after sunday I will not be offering the yearly paid plan. This makes it alot easier for me because I currently have the discord link in the welcome email that goes out and many don’t even read that then message me to send them an invite. I’m happy they finally did this, it was one of the things I suggested to them for a while. Also everyone that is in the discord by then has access forever since they’re currently not integrated, once they are, as your subscription to the substack ends, your discord access does too. So pretty much everyone in by this sunday is there forever whether you cancel ever or not, after that, that won’t be the case. That means if you want to pay for the year at the discounted rate, after sunday that won’t be an option, maybe one day substack will allow for 2 payment plans to be integrated but for now it is not.

As for the SPY, I’m not going to waste time discussing the market today because we have CPI tomorrow morning and alot is going to change. As I said yesterday we’re a bit extended so a move lower would not shock me. Use the 8 and 21 ema as your support levels and we will discuss levels tomorrow. If you want a cheap hedge for tomorrow in the off chance stocks go down for once this 545/530 July 31st put spread bought today caught my eye. It costs a dollar and could be worth as much as 15 in 3 weeks should the SPY decline below 530.

Recent Trades

Today we had 2 trade writeups boom so let’s talk about those.

SGH - up 23% right now after earnings yesterday to 28.55. I know I always joke in here about how fundamentals don’t matter, but it’s not really that fundamentals don’t matter, it’s simply that the flow of money is all that does matter. I don’t even know what this company does, nor do I really care. Monday when that player added those 10,000 calls 50% OTM I knew it was a very odd trade and if you played this congrats, I would take your win and run. This is a very big move, don’t get greedy. If it goes up more, so what, you made money.

LNTH - Another who knows what they do company. This is up 34% right now to 104+, I highlighted it 2 weeks ago here on 6/27 below $80. Those calls below that were bought for $1.10 are now $17. What an insane gain. If you’re in these, they expire next week, take the money and run. I know a few of you emailed me today asking my thoughts on what to do. If you’re up over 10x with a week to go, there is nothing to think about, sell it now.

Trends

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2 Week

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Today’s Unusual Options Activity

Here is today’s link to the database, as always it will expire tomorrow morning at the open and the rest of today’s trades will be added the afternoon. The call list was too long today to fit in the screen grab below, so check the database link to sell of today’s trades to this point.