Wednesday
July 22, 2015
1-855-RWT-0008
Prepared by the good people at Random Walk, LLC. (and Scott)
Great Morning!
Closing Prices From Yesterday
Confused? Don’t know if you are protected in a crash?
Call the office for assistance!
Today’s Number(s)
Yesterday and Today
Yesterday
Smacked across the face.
The market opened down about 120 points because of UTX and IBM. This was pretty much known the day before, after earnings came out on the close. The SPX opened down only -$1 because of this, but then proceeded to sink more and more throughout the day.
The real surprise was TESLA being knocked down $15.49 because UBS changed their stance from a āBUYā to a āSELLā. I so wish I legally could manipulate prices like these big banks do. That is why firms like Morgan can have 1 losing day in an entire year.
Formula:
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Buy puts
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Next day put out a sell recommendation and watch the stock fall
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Sell puts
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Repeat the next day in a new name
Besides those sour grapes, the day was refreshing in that I did NOT hear more than 5 minutes of chatter about Greece. I suppose we have Donald Trump to thank for that.
TODAY
We will open lower tomorrow. After the bell AAPL reported their earnings and beat in every category, but the stock still took a hit. I love this name down here. What is not to like about a company that sells a $600 product, sells 47.5 million of them every 3 months, has a 39.7% profit margin on them, and has now over $200 BILLION in cash? I hope they KILL the stock on the open as all the analysts tonight are writing copy on how AAPL is now a rotting fruit (or whatever pseudo-intellectual headline they want to give it.
OPTION TRADERS
The VIX was DOWN yesterday despite the Dow being down 181. This tells you that traders are likely long volatility, so we will not (most likely) fall much today. If volatility does stay this low on the open it might actually be a good long gamma scalping opportunity.
POT is held each Wednesday night at 7:00pm eastern.
Too True To Be Funny
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Attorney Stuff
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Trading is almost as much fun as black jack in Vegas, but without all the annoying distractions of free drinks, Broadway shows, gorgeous people with low morals, and free buffets. It also has about the same odds of success, so when you lose all your money you wont have to walk past a smiling pit boss. Even Bruce Wayne lost everything with options in The Dark Knight Rises, and Superman keeps his day job at the Daily Planet newspaper.
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