We have a big week ahead with CPI Thursday and PPI friday. Until then, likely we don’t do much. If either is bad, the 8 ema(dark blue) and the 21 ema(light blue) are your levels of support to watch. Bank earnings also begin friday. We have alot of things to digest this week before we see the short term direction of the market. For now we’re just doing what we’ve done for the last 45 days which is just ride the short term moving averages higher. We are extended now, look at the rsi, so a small pullback wouldn’t shock me.
Recent Trades
C - one month ago on 6/9 I wrote up Citi as a best idea here. The stock is up nearly 10% in the month since, for a large cap bank, this is a fairly large move. They have earnings this friday so if you’ve done well here you may want to consider selling or selling covered calls on this breakout near 67. Those trades I drew up for December 2026 paid you to take on the risk and are now blossoming. These $90 calls out 2.5 years from now have gone from 2.85 to 3.60 x 4.95 right now, I don’t know where you would fill to buy these now buy you’re up somewhere in the neighborhood of 40% on an 9% move in the equity, that’s why you use OTM calls when you’re thinking a sharp move is coming. The put sales I pointed to at 47.50 are now 2.95 from 3.55 for a near 20% gain. Again with leaps you’re not going to have a straight line up, there will be bumps along the way like my Amazon trade last year, but you’re in a good spot right now if you want to hold this. If not, you can cash in and move on.
Trends
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Today’s Unusual Options Activity
Here is today’s link to the database, as always it will expire tomorrow at the open and the rest of today’s trades will be added by tonight.
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