Do you know a guy?

Stocks closed mixeddd today, very very mixed……..
Lets start with the elephant in the room. The other day I mentioned MARA. Well I personally got out today with a very small loss before it took it’s big deep plunge ending the day down 14%
I have a buddy in real life. He is one of my best buddies of my life. We are tight.. But I also know that it is his life’s mission to personally waste as much time as he can explaining to me why a stock fell when they fall…. William O’Neill, the founder of IBD, he wrote the book “How to Make Money in Stocks” he said that the reasons a stock falls means ZERO….. If my buddy spent one half of one half of one half of one half of one hundredth studying stock systems, maybe learning about Options, or how to calculate projected movements I swear he would own his own tropical island
I pray that you and your loved ones are never in a home that catches fire
My house caught fire one time many years ago with me in it
As the flames swirled around me and smoke filled the room, not for one second did I stand there saying “I wonder how that fire started??, and then stick around to check it out”
Nooooo………… I got out……. If your stock goes on fire and falls south, you get out, not try to figure out why... Professional traders call that “Living to trade another day”

Not all of our stocks fell today.. AMZN 😁 Wowwwww, Those 210 /215’s then the 210 / 220’s I mentioned yesterday morning, wowwww…. I took the 210/ 215s and they made some serious green today… I also took some Blind Calls, they are greener
From here if an investor did the 210 / 215’s they will need to close “sell” the 215’s when price hits 215..
At that time they can do one of two things>
1st: If they want to keep downside protection they would then sell the DEC 20, 2024 220 Calls going for 4.60 at the MID, which will then re-create a new Vertical with the existing 210’s
2nd: If the investor feels that AMZN has now proven itself with strength and they are willing to go “Blind” meaning no downside protection, they could simply keep the 210 Calls after they closed the 215’s
Options buying intensified today, more so than what I mentioned yesterday morning
Right now they are buying heavily into DEC 20, 2024 and JAN 17, 2025
The Calls in JAN really picked up at the 240 Strike.. Some of those are being sold as hedges, most likely from Vertical plays like we are employing. Still they are noticeably active

HD I told you guys we would be talking about it more soon, well lets do that now. The plays I outlined here at theoptionscoach.net a few days ago are back in play after the dip last week. We like the chart, Options are “respectable” but nothing overly aggressive. this one could be a slow steady go, we like those too

Today a reader wrote me to thank me for GBTC. Since I spoke of it Monday morning it’s now up over 17% in just 3 days. It was up 20% but gave back a small bit
If you recall I like GBTC because it has far less volatility since its an ETF

Today I re-entered COST with a longer term outlook, lets talk about that in the morning

The Options Coach