Hello from Tulum, Mexico!
I’m here looking at the investment real estate market.
But let’s talk about that Trump SPAC!
Shortly after the news broke that Trump Media and the DWAC SPAC were merging, shares rocketed higher by more than 350%!
And if you think that that was insane, today shares traded up to $175 per share, which is 1,700% in 48 hours.
Crazy! But that’s how silly the market is right now.
Since these SPACs have small floats (equity shares issued), you will see a buying frenzy such as this with buyers paying more and riding it higher.
But they do crash and are best for intraday trades.
I do this there will be more of a buying frenzy next week, but don’t get caught holding the bag.
Now, let’s talk about the CBOE Volatility Index (VIX), aka the “fear” index, which closed right at our key 15 level.
After our hot week last week, things cooled down for us.
Oftentimes, we need to be patient.
Now let’s talk shop.
Buy-to-open the LYV Nov. 19, 2021, $105/$115 call spread
Buy-to-open the CCJ Dec. 17, 2021, $30/$36 call spread
Right now, we’re holding:
Now it’s time to lay out by the Ocean with a fresh spicy margarita - TGIF!
Have a great weekend and talk with you on Monday.
To your wealth, freedom, and options!
Joshua M. Belanger