A Snapback To New Highs!

October 29, 2021

Dear Trader

I’m back from Mexico and happy to be home.

It’s the last trading day in October and what has been a weak month will close the month out at new highs. 

We’re in the final stretch of the 2021 campaign and we’re seeing and experiencing things in your daily lives we never saw before. 

We’ve been looking for furniture for our guest room and it’s been mind numbing. 

Trying to find furniture that is in stock (or received in a responsible amount of time) and that my wife likes has been a challenge I wouldn’t wish for my worst enemy.  

But we know Wall St. is disconnected from Main St. so where the market goes from here...higher!

But that is all dependent on the Federal Reserve keeping the printing machine on 24/7.

Now, let’s talk about the CBOE Volatility Index (VIX), aka the “fear” index, which closed at 16, which is one point above our key 15 level.

That means risk is on and the path of least resistance is higher

Now let’s talk shop.

Portfolio Update

On Monday:

No action

On Tuesday:

No action.

On Wednesday:

Buy-to-open the LVS Nov. 26, 2021, $41/$115 call spread

On Thursday:

Sell-to-close ACM December 17, 2021, $70/$75 call spread

On Friday:

No action.

Right now, we’re holding:

  • TROX December 17, 2021, $25/$30 call spread
  • FB November 5, 2021, $325/$310 put spread
  • LYV Nov. 19, 2021, $105/$115 call spread
  • CCJ Dec. 17, 2021, $30/$36 call spread
  • LVS Nov. 26, 2021, $41/$115 call spread

Trade Journal

This is my journal which is a debrief of every trade closed or expired to analyze what happened, why it happened and how it can be done better — like what the military uses after missions.

ACM December 17, 2021, $70/$75 call spread

Outcome: 28% gain.

Notes: We’ve rode this position up and down since August and I wanted to free out the capital and deploy into something else. 

Now it’s time to get my 7 mile run in before enjoying a fresh spicy margarita - TGIF! 

Have a great weekend and talk with you on Monday.

To your wealth, freedom, and options!

Joshua M. Belanger

Joshua M. Belanger
Joshua Belanger is founder of CounterVest and the editor of Hot Money Trader. He has been providing ordinary investors blockbuster returns since 2008. In 2018, the average return of Hot Money Trader beat the markets by over 15%