Thanksgiving is my fiancée’s (Nicole’s) favorite holiday and, it’s a blessing that we were able to enjoy the day with her and the family.
Like many of you yesterday, I chowed down on turkey and stuffing.
And the one thing I look forward to every year is leftover turkey sandwiches with mayo.
Looking at the markets, we see slower action today after the holiday yesterday, with markets closing at 1 p.m. EST today.
Even still, we continue to notch new highs for the year in all three major indexes.
The fear gauge is known as the CBOE Market Volatility Index (VIX) for the S&P 500 is at 12 and below our key level at 15 — indicating that the path of least resistance is higher.
This week the market received a data dump of economic numbers that were mixed but mostly positive.
Overall outlook in the markets is opposite from last year, and it doesn’t look like Christmas will be canceled this year.
Speaking of Christmas, I have an early gift for you...
My team put together a bonus report.
It’s a summary of my latest talk at the TradersEXPO in Las Vegas, "Three Strategies to Make Your First Million."
Click here to read it.
After you read it, we’d love to hear your thoughts and feedback — feel free to send them my way at [email protected]
Now let’s talk shop...
On Tuesday, we bought to open Evolent Health, Inc. (NYSE: EVH) December, $12.50 call up to $0.30 per contract.
Today, our Fireeye Inc. (NASDAQ: FEYE) November 29, 2019, $17.50 call expired worthless.
Right now we’re holding:
- Kraft Heinz Co (NASDAQ: KHC) December 13, 2019, $34 call
- Evolent Health, Inc. (NYSE: EVH) December, $12.50 call
Fireeye Inc. (NASDAQ: FEYE) November 29, 2019, $17.50 call
- Date: November 19, 2019
- Reason: Our Hot Money Tracker spotted a large bullish bet placed in the November call option strike, which would pay off if prices shot higher. Prices of shares were consolidating
- Outcome: Expired worthless.
- Improvements: These types of trades are frustrating. The following day after entering this position prices of our calls shot up to 45 cents and then slowly declined back to our entry price by market close. Then it was a slow decay into expiration. That is why we stick to the framework and can't let winners ride. This one is on me for not being able to exit quick enough, we have to get better.
As always, keep sending your questions and feedback to [email protected]
My team and I will have a new trade for you on Tuesday.
To your wealth, freedom and options!