Long live the King

Most of the market struggled today, but the S+P 500 went up above 6,900 for the first time ever thanks to $NVDA ( ▲ 4.98% )  
$DJI ( ▲ 0.34% )  
$SPY ( ▲ 0.5% )  
$QQQ ( ▲ 0.82% )  
$IWM ( ▼ 0.57% )  

NVDA is back in play as it shot north out of it’s base today
In the morning we’re going to be taking a look at new plays with Options on it
Profit taking could come in first and we want to be in position to take advantage of that

$JPM ( ▲ 0.49% ) I didn’t get the MID fill I wanted for our Bull Call Spread today but I did take the NOV 21, 2025 Long Calls at the 315 Strike, small nibble here as it proves itself. Those finished the day up over 17% while JPM was only 0.28%
If your new here welcome, one of the countless reasons we love trading Options is the leverage they offer. Only with Options can a stock be up a third of a percent, but the Option on it is up over 17%

$GE ( ▼ 0.98% ) “Back in the day” floor traders kept little card sized papers in their jacket pocket. They wrote down areas a price would “pivot” those became “pivot points” and are a valid form of technical analysis. Right now GE seems to be a pivot point traders dream, it’s like ping pong if you will, we still like it and will be looking for more entries when they come about

$TSLA ( ▲ 1.81% ) still chugging along, we’re still long

The other day I had a “situation” I ran into a guy I’d met in a social setting years ago
To say that he’s arrogant, self righteous and a jerk would be putting it mildly
Initially I had some words I was thinking of “sharing” with him
I didn’t, I simply smiled and walked away

Stocks can be that way, as in we don’t need to get mad or upset, but just cut losses and go
Right now the markets are ripping, profit taking could come, or we could jet north some more first
Either way don’t allow your trades to turn into bad investments
And by doing that, we live to trade another day

The Options Coach