7/25 Recap. Uneventful Day Before The Wild Week

Chart Of The Day

Let’s start with Google here because this continues to be in my book the most important chart for the week ahead. None of the other megacaps are breaking down before earnings. Could this be a false breakdown? Sure but look at today, textbook rejection of the backtest of the uptrend. I sold the GOOG puts I mentioned buying friday, the $108 puts from $3.30 to $4. While I would love to hold them through earnings, I am not a gambler. This name reports tomorrow and it could be the first shoe to drop. While I would love to see Google post good numbers and head higher, this chart says if you don’t want to stay short, get out of the way and that’s exactly what I am doing for now.

Today’s Unusual Options Activity & What Stood Out To Me