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Rocket 11-18-22
WSM came out with decent numbers but they will not be updating their guidance because of uncertainty going forward and sold off nicely. We will let this position expire for a max profit of about $3.00 per contract pair, as we just need WSM to close below $135 today. NVDA has traded lower as this market has deteriorated in the first 35 minutes of trading. Place an order to sell our NVDA $155-$145 put spread at $3.30. We will need some further negative action to get executed. This contract expires today so we will look to move it out before...
Rocket New Trade Update 11-17-22
We are making another options trade on WSM Williams-Sonoma earnings after the bell. It is trading at $129.38. We are going to place a flat to bearish trade using a credit call spread from $135 to $145. Use the calls expiring tomorrow Nov 18th. We will look to absorb some of the premium priced into the upside by selling a call spread above the market. Sell the WSM $135 Call Nov 18th Buy the WSM $145 Call Nov 18th This will result in a credit of about $3 which is our max profit. Our max loss is $7.00 or $700 per contract pair. We...
Rocket Update 2 11-17-22
We got a nice execution out of the KSS trade this morning as it opened with straight upwards action and we were able to lock in a small profit on a high probability trade. I sent the NVDA debit put spread out very late yesterday. I try to avoid late updates as I know not everyone is glued to their computer in the final few minutes of the day, but I was making the trade so I sent it out for those that might have been following the action. NVDA has been weak all day, as it's given back all of...