Tuesday 7/18/23 Pre-Market
Seems the “Just Buy Stupid” market paradigm is back, at least for now. SPY 0.00%↑ unsurprisingly closed green yesterday with a great day from $AAPL as well. That said the Volume up here is not great, and the profile would provide a lot of places to look for a drop too.
VXX 0.00%↑ is still trending down….no real surprise there. I am in both some Puts and some Bear Call spreads on those. Entered them yesterday in a few different tranches.
Finally today I am looking at adding some XOM 0.00%↑ longs to the mix. Going to wait out the opening 30 to see what it does, but if it looks constructive the aim is to grab a few calls to a return run to the other side of range around $110
AAPL 0.00%↑ looks toppy up here to me. So potentially looking at some bear call/put spreads depending on if I want a debit or credit spread. I am thinking credit is the way to go so even if it chops around the Theta burn works in my favor.
That’s all for today. Please do me a favor and if you liked this give it a share and a sub.
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