Pre Market DEC 31, 2024

Last day of 2024……Any big big plans tonight??? Me, I have no idea just yet, might just sit here and create some chart art tonight… Tomorrow however is another story. Going out on my annual New Years Day hike with one of my hiking clubs in the morning ( good thing it’s been been raining the past 2 days and the rock embedded trails will be all muddy and slippery!!! 😃 ) then I’m hosting several folks for New Years Day dinner later on

Stocks are green here in the Pre Market today
RDW which I mentioned yesterday is up 1%
That one is a short - intermediate term play only, not looking for a long term investment here. That is also in part why I didn’t mention it before. The volume however is increasing and the DTC ( Days To Cover ) is now at 7. Anything above 5 gets our attention
When a stocks DTC is above 5 the chances of short sellers having to cover are high. The higher the number the better for Longs.. 7 is noteworthy
With today only being a half day we don’t expect a lot of movement in the markets today
I’m looking at adding more Options on RDW in the way of the MAY 16, 2025 Calls at the 18 Strike going for $4.05 at the MID
This trade could be short lived and simply a “hit and get” meaning if it pops, take the money and run
This week could be slow but we here at theoptionscoach.net will be here grinding it out

S+P Support is at 5,860
Time to grind

The Options Coach