On the trading floor, we’d call this a choppy week.
All three major indices drifted into new all-time highs, but then we saw profit taking.
The market is still thirsty for more stimulus, but politicians are playing politics.
I don’t think we see anything passed until the Georgia Senate runoff election.
Now, The CBOE Volatility Index (VIX), aka the “fear” index, is still above our key 15 levels, trading at 23.
Let’s sit on our hands, stick to our system and we’ll come out ahead.
Buy-To-Open the Advanced Micro Devices, Inc. (NASDAQ: AMD) Dec. 18, 2020, $102 call (AMD201218C00102000) up to $1.05 per contract or better, for the day.
Right now, we’re holding:
- Hostess Brands Inc. (NASDAQ: TWNK) Dec. 18, 2020, $15 call (TWNK201218C00015000)
- Sandstorm Gold Ltd. (NYSE: SAND) Jan. 15, 2021, $10 call (SAND210115C00010000)
- Plug Power Inc. (NYSE: PLUG) Dec. 24, 2020, $35 call (PLUG201218C00035000)
- Advanced Micro Devices, Inc. (NASDAQ: AMD) Dec. 18, 2020, $102 call (AMD201218C00102000)
Let’s keep focused and let the market come to us.
And I’ll be keeping you updated every step of the way.
Have a great weekend, and I’ll have a new trade for you on Monday.
To your wealth, freedom, and options!
Joshua M. Belanger