It was one of those days where the markets were clearly red across the board. It doesn't come at the slightest surprise. We have been near or at all time highs almost all summer it seems. Of course there are still a lot of growth names that are down and their charts look more or less the same. But, this is the third red day in a row overall and futures are pointing to another day of losses.
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$EBON +5% (puts)
$ROKU -2% (Cut)
BTC plummeted and the EBON puts are finally in the green and in the money. I'll let it ride for a few more days before deciding to take profits.
I cut the ROKU position at a small loss because I don't see a need to have this position right now if we are pulling back. Overall I think we are, and the data that I have access to suggests that too. Once we have a more clear direction I'll take a look at ROKU again.
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XHB, or Homebuilders ETF, is still looking as if a bounce on lower support will be profitable. I look at this one as a long term position that I would either get LEAPS or commons on and hold for a while.
AI is looking again that puts might print on a bounce off of the 50MA. More so, if the broader market is moving down, this is easy money. I like weekly or monthly puts depending on how much money you want to put in this or what your risk tolerance is.
HD's seasonality looks excellent for the month of September and I think this might be one of the few where I am bullish right now.
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