Wow! That was an ugly jobs number report this morning.
The market was expecting +750k non-farm payrolls, but it came in at +235K for August.
Which will likely see a revision lower.
And if we didn’t think the wheels haven’t come off yet, the NY Fed announced they will suspend its GDP tracking model.
All I can say is, it’s an interesting time to be alive.
Luckily, we were able to put another winning trade on the board before we head into the 3-day weekend.
Now, the CBOE Volatility Index (VIX), aka the “fear” index, is at 16 above our key 15 level.
So we continue to be a bullish regime and tip-toe higher.
But I still think things will get very interesting in the coming months, buckle up!
Now let’s talk shop.
Buy-to-open the AAPL September 17, 2021, $155/$160 call spread
Buy-to-open the CCJ October 15, 2021, $19/$22 call spread
Sell-to-close the CCJ October 15, 2021, $19/$22 call spread
Right now, we’re holding:
- FCX September 17, 2021, $38/$41 call spread
- SNAP September 17, 2021, $80/$90 call spread
- YELL October 15, 2021, $7.50/$10 call spread
- JNPR September 17, 2021, $29/$31 call spread
- ACM December 17, 2021, $70/$75 call spread
- AAPL September 17, 2021, $155/$160 call spread
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.
CCJ October 15, 2021, $19/$22 call spread
Outcome: Exited for a 50% gain.
Notes: We executed this perfectly. Shares did continue to spike higher, but that’s a gamble. If we knew that shares were going to spike higher the following day, being long calls would’ve paid us more. But that’s always the trade off.
Now it’s time to get my 7 mile run in before I head to the pool with a fresh jalapeno margarita - TGIF!
Markets are closed on Monday, so I'll have a new trade on Tuesday!
Enjoy your Labor Day weekend and God bless the USA.
To your wealth, freedom, and options!
Joshua M. Belanger