And that's a wrap

Do you have any big plans this weekend? Do you like road trips? Or even just day trips? Tomorrow a couple of buddies and myself are taking a day trip! Those guys are married, kids, grandkids, 60sh like me, and got “reprieves” from their wives for an entire day so that we can go to an event. Why do I mention they’re married? Because one of them may of murmured something about his wife sending “light coconut chips” I’m trying my best to forget that as I’m 110% certain that what he meant to say was “Cheetos” like 4 different kinds. I am now officially in charge of snacks…. 😎 

The markets have been taking a road trip this month. When markets pause like they did today ( we mentioned in the Pre Market report why we didn’t expect much today ) they are stopping for a breather, or in the case of a road trip get out get gas, stretch your legs, maybe get some more snacks.

Here’s how some of our favorite stocks faired for the week this week
NVDA -2.57
GE +0.68%
SN +2.47%
AMZN +2.74%
SFM +3.53%
CAT +6.81%

GE is showing signs of greater strength in the way of Options.
The OCT 18, 2024 Calls at the 200 Strike perked up today quite a bit
Currently there are 5,536 Contracts. Some of them could be being used as hedges, but there is no denying that the demand is there as over on the Puts side there is only “1” contract. 1, that’s it, that’s Bob in his moms basement. Good luck to Bob…..

Closer to the money over at the 190 Call side there are over 13,000 contracts, only 20 on the Put side. If you recall the other day when stocks were all deep red GE closed the day up 1.87%. At that time I said that we like stocks that are green when everything else is red. GE is showing signs of a continuation in the making and we are looking at a few different ways to play it right now….

Triple Witching today cleared the books for a lot of trades, alotttttttttt…… Monday will be a do over and we’ll get to see where the dust settled, and how the market now proceeds from here post Fed and post Triple Witching. Go get outside this weekend, take in the sun and the fresh air, go for a big walk, I’ll be doing a lot of that tomorrow… Be back Sunday night with the Weekly Review and to answer a couple of questions that I received this week.

The Options Coach