Elon wins again

Stocks finished the day veryyyyy mixed….. Some green, some red, some just flat as a rock
While the DOW was red, the S+P squeaked out a W, and the NASDAQ closed up 0.60% from last Fridays 2.41% loss

TSLA however started the day off strong and didn’t disappoint closing up almost 6%
TSLA really stands out on todays Heat Map
AMZN I’ll be honest I thought it was going to have a better day than what it did, that’s okay, it’s not a goner at all, we still like it here as it’s holding at the 20EMA and hasn’t fallen back into it’s previous box. Any bounces from this level will be add ons
GRMN is showing some signs ( technically ) that it wants to go, we are on hold here

GEO, lets talk GEO again
Technically we like it, short term…
 I’ve shared here a few times recently that any new buys will need to be watched and managed closely, and I stand by that
Options buyers didn’t step in much today… It was pretty light.. The only noticeable buying occurred for JAN 17, 2025 at the 30 Strike. Some of that concerns me a slight bit as they may be being used in part as hedges.. We are positioned well as the next earnings release isn’t until FEB 12, 2025

Today I want to show 2 charts of GEO
The 1st one is a One year chart with daily price bars
You can see the High Tight Flag formation on the upper right corner, volume has been steady. Any additional volume and we could see a surge in price

The 2nd chart is a 20 year chart with monthly price bars
Notice how I wrote 1st, 2nd and 3rd
See how extended the current price is from those previous peaks?
Long term investors should not discount those as price could see a correction

The Options that were there 2 months ago when we here at theoptionscoach.net first entered and received a 970% gain are no longer there. The Market Makers have adjusted the prices of those Options. And as I said above, buying is not what it was.
The one year chart is what has us drawn back to GEO
Here’s the plays to consider

For stock holders a 5% STOP loss is where we would want to exit

The JAN 17, 2025 Bull Call Spreads at the 27 / 29 are ones to look at
The MID on those 0.55
I looked at the 27 / 30’s but the pricing was wider, remember how I always say in Options pricing is everything?

For investors willing to enter with out any downside protection
Buying the JAN 17, 2025 Calls at the 29 Strike for 1.90 at the MID
For those that are Options Savvy, yes the 30’s hold a stronger O.I. but again this is about pricing, the Bid / Ask is much wider there

GEO is not one I would be looking at for long term hold now, maybe a month ago, here not so much. Should it hold and prove itself further we may reconsider

Tomorrow is another day

The Options Coach