It's not over until it's over

The bears won today, there’s no denying that. The major indexes all closed red and the NASDAQ took the hardest beating closing down 1.6%
Tech got wrecked..
It could of been worse, much worse
NVDA was down over 6% at one point and closed the day down 2.81%
META?? Haaa!! If you’ve been here anytime at all you already know my thoughts on that one. It shuttered 3.71%
Most of tech hovered around those 2 numbers today

Can we get happy for a moment?
GE 😁 
If you didn’t see yesterdays writing from theoptionscoach.net go check it out
In the Pre Market this morning I spoke about it again, and said we would be taking entries from any attempts to recover the 9% it lost on earnings
This morning in the Pre I mentioned that GE had flirted with 179 for a brief moment. Well today it broke north of 185 and closed at 181.76 or 2.80%
We tool multiple long positions with Options
Should GE hold this level we will be talking about the potential options plays on it tomorrow

COST, it’s a $900.00 stock. That’s not cheap
We love the options on it and will be looking to add to these if this level holds
We placed Bull Call Spreads for DEC 20, 2024 at the 905 / 920
Let’s look at that, if an investor were to simply buy a Blind Call at the 905 Strike the price would be $3,850, per contract, yes for each contract

With the Bull Call Spreads we are not only reducing our potential risk, but our overall cost basis too. The MID on those is now $700.00 per contract
See the advantage?

SFM is literally closing in to being up 100% as a stock since we first started talking about it here in MAY 😃 That could happen any day now

One thing to consider that is important:::::::::::
When markets take downturns we protect capital

GE stood out today, it was not the norm. Check it on today Heat Map….. It’s a stock that we have been working with for years and today was a great opportunity.
We have been talking about it a lot lately, yesterday I gave the chart of the area we would buy any bounces off of, today we got that opportunity

“A pessimist sees the difficulty in every opportunity, the optimist see the opportunity in every difficulty” ~~~Winston Churchill~~~

The Options Coach

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