TV's Friday Thoughts
With no news due out today, it should be a fairly tradable Friday if I had to take a guess.
Markets sold off pretty decently yesterday. which based off premarket action is looking like it was a buying opp not a change in theme. But time will tell on that one. We are still way above the VAH on the SPY 0.00%↑ so more downside would not be surprising to me. But we will see how that works in the longer term. Shorting this thing is like asking for a punch in the face…not recommended.
TSLA 0.00%↑ also got popped pretty good yesterday down almost 10% but it looks to be recovering a bit premarket and is up a few bucks. I think Calls and Bull Put Spreads could be a really solid play here if it can hold the yearly VAH. I would look to really be controlling risk on that though. I still think a return trip to the yearly POC of around $200 is possible. In the event, we actually fall to the 240-250 range. I would be looking to play 5-10% OTM calls on the long side. for Put spreads it would depend on premium.
That is all for today, it’s a Friday so I try not to trade much in the options market. If it was a good week, enjoy it and move some of the money to long-term income-producing assets. If it was a bad week don’t try and be a hero on a Friday. Analyze the week, and learn where it could have been better.
I am going to try and get some research stuff out this weekend. Trying to expand to writing up something 6 days a week.
Good luck trading