7/21/25 Recap

The SPY continues its march higher after that tiny headfake last week. The move below the 8 ema 4 sessions back shook a lot of people out but if you waited for the close you would have been fine because we have not closed below that 8 ema(blue line) in over a month now. This is a very clearly defined bull run here until otherwise stated. Try not to overcomplicate things worrying about macro or earnings and just watch for closes below some of these moving averages to dictate how light/heavy you are in things. We have some big earnings these next 2 weeks which should give us more clarity on where we are headed longer term.

My Open Book

I don’t even know what to say anymore, I’ve had a few moments recently where I get the urge to take some leverage off but we keep riding this 8 ema higher so there is no need to for now. It’s insane to me because I’m approaching a 50% return for the year and we’re in July. I haven’t even dabbled in any shitcos this year like most people with this sort of return, I’ve just been so levered up on the short puts on good names and we keep drifting higher. Overall, I just crossed a 500% total return from when I began this substack in June 2022, I can’t even believe it, that’s easily the best 37 month stretch of my life and to be able to do it while documenting it all in all these daily posts is just surreal.

Trades I Added Today