It's "Spooky Time"

The only reason I titled this today is it’s the start of October, and the fact that today was one seriously weirrrrd market day.

Today is one of those “Well where do we start” kind of days to write about, so bare with me here as we unwrap this together.

This morning I shared that everything was “eerily quite” in the Pre Market, and it was… Stocks then went red at the open, most all stocks did, tech dropped heavily and couldn’t find a recovery

We found a footing and the “Dip Buyers” stepped in, many new highs were being tested everywhere ( except big tech of course ) then came the pullback…. The news of the day is Iran firing ballistic missiles at Israel. The one thing that the markets hate more than anything is uncertainty.

Today went to the Day Traders for sure, there’s no denying that…. Even with it being National Taco Day I didn’t leave for lunch today, no way. ( I’ll get some later ) We added to a few old friends and started new positions too. Lets get to it::

CAT: We closed our 390 Calls after the open out of concern of the market going deeper red
What we were able to do was re-enter down on the “Dip” buying the 390’s back, the 400’s and the 405” all for OCT 11, 2024. IF CAT continues to hold the 393 level we will look to add to any bounces from there
At this point no more Blind Calls
We will buy the 395 Call and sell the 400 Call giving us downside protection
Those Verticals will be for OCT 18, 2024 ( again, only if we bounce )

SN: 😁 😁 You guys know that I love saying “Shark Ninja” 😆 
We like the 115 / 120 Verticals for OCT 18, 2024
( VERY IMPORTANT that is only should the stock go green tomorrow )
Advanced Options Investors with a bigger appetite for risk could consider the 115 Calls Blind

GEO: We like these levels here, if it can get some volume and start the advance this one could be good, right now it’s building consolidation down at Support. If it breaks this Support we won’t have any interest of entering. The Options are starting to pick up some momentum here at various levels, more on that soon

SFM: Yes, Please and Thank You 😁 Wow, right place right time. Yesterday we initiated a new long, today we added to it, and are actively looking for more entries.
SFM as a stock is up 2.85% on the week so far. Our Blind Calls for OCT 18, 2024 at the 110 Strike are now up over 57%.
Notice the closing price of SFM today is a tad under $111.00?
That demonstrates that we did not go DEEP OTM on this one and are still receiving great gains.

When we hit that “Grand Slam” with CAT over the last 2 weeks we shared here at theoptionscoach.net that “the moon, the sun and the stars” were all in line.
SFM looks to have some of the same characteristics here. We entered with a Delta of 0.57 and I.V. of only 30... How sweet is that??? ( yeah I was around in the 80’s lol )
Tomorrow is another day

The Options Coach