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Morning Brief: More Doses Less Risk




Biotech vaccine makers keep coming out with new data. It appears that a 4th dose, a third dose, and another booster all seem to mitigate Omicron risk. Well the minor risk that Omicron poses. Wall Street seems to agree as it surged yesterday and is posed to have a positive open today. I expect that the market will trend sideways as Wall Street waits for Economic Releases this morning.


On the docket for Releases today are: GDP, Existing Home Sales, and Consumer Confidence. Of these, consumer confidence will be the biggest market mover (scheduled for 10:00 EST. It will be interesting how confidence is with current rises in inflation to new highs, a lack luster Biden Administration , and a new variant more transmissible variant. I expect it to remain solid, and that news will leave the market sideways or up.


Today's Trades:


#TSLA continues to gain after a large drop over the last week. I called a bottom and support, and we adjusted into a long call and sold puts , which banked yesterday. I closed out then put on more theta, selling 830 puts which are already valued at zero, meaning I made a 100% profit . I will continue to stagger up and sell puts/theta.


#NVDA seemed to hit a bit of resistance at 290, and I closed out my call and sold puts/theta to gain on both. I still think the stock has room to break 300 and will look to put on theta here and do a strangle as we come into Christmas



#GME just can't seem to gain any bullish momentum, I added on to more sold calls/theta @200 strike and I believe for next week I will do the same.


#MRNA could bounce if any new covid news hits, so I am hedging myself here when I sell calls by buying a call at a lower strike, but still weighted delta negative. I think this is still a good play into the week.


In Asia, Japan +0.2%. Hong Kong +0.6%. China -0.1%. India +1.1%. In Europe, at midday, London +0.1%. Paris +0.2%. Frankfurt +0.2%. Futures Dow +0.1%. S&P flat. Nasdaq -0.1%. Crude +0.3% at $71.32. Gold +0.1% at $1791.10. Bitcoin +0.5% at $49085. Ten-year Treasury Yield -1 bps to 1.47%


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