Classic Pre-Earnings Dump & Go
I hope you all BTMFD last week, we loaded up on $FB, $AAPL and $QQQ. We leveraged a combo of selling put credit vertical spreads and buying call debit vertical spreads.
We are keeping an eye on $TSLA, it is looking juicy at the moment (I wish we would have dipped our toes in the water under $310.00). A 340/360/380 call butterfly or a 340/260 call vertical with a July 28th expiration looks like a safe play (a little too rich for my blood, atm).
We are tracking $GC_F for a longer term bullish play aiming for expiration late September. Hopefully the rally in equities will push down the price of gold for a better entry.
It feels like a fairly standard earnings cycle, buy the dip before earnings, ride the wave up, dump prior to the earnings release. Rinse and repeat.
I have a feeling they will start pulling some major bullshit going into August/September. Until then, we are going to enjoy the low volume melt up.
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