Pre Market NOV 20, 2024

Stocks are slightly green’sh here in the Pre Market

Well it’s here, it’s finally here “NVDA Day!!!”
Today earning release of NVDA is without a doubt the most anticipated release of the year
Not only is NVDA’s market cap the largest in the world coming in at 3.65 Trillion, but it’s Options are INSANE…………

Perspective:
NVDA has more Options in it than
MSFT
AMZN
META
TSLA and
GOOG all combined…………..

Just for this Fridays, NOV 22, 2024 Expiration alone:::
Call Contracts: 738,456
Puts Contracts 461,331
Total:::: 1,199,787 Options Contracts
That is for this Friday alone……

When mathematicians Myron Black and Fisher Scholes released their Options pricing model back in 1973 I have nooooo doubt they hadn't even dreamed of anything like this. That was 51 years ago
50 years from now we all may be driving space cars on MARS if ELON gets his way

Okay I’m an Options Geek I guess, lol…. 😁 …To me those numbers are beyond anything thought of previous to NVDA
NVDA is up 0.65% here in the Pre

Moving on:
SFM
I want to take a second to talk about our long time friend
The current chart on it is really peaking my attention
Anytime that a stock breaks north of it’s channel, to retest the channel like it did yesterday, then continue north thus making a new channel, that is strength my trader friends. It’s not much of a Pre Market mover and is flat so far this morning. I may be adding more to it today if it goes green

Last night I had dinner with one of my favorite traders
She’s a younger lady, about 35’sh, she travels to my city once a quarter for her job and we always connect to talk shop
My friends name is Anna, and she is good, real good
Anna doesn’t trade Options, she specializes in small caps and the ES Futures
The topic last night was a surreal reminder of people that we both know that “put it all on black” but the ball wound up on red. Gambling instead of prudent investing. I believe in taking risks, when the time is right. I wouldn’t be where I am in my career had I not of… There were some hard knocks along the way. Some serious setbacks, but from those I learned and grew. For traders / investors that do straight out gambling all or nothing, rarely has that worked out long term. The house wins for a reason
No one can tell you how or where to invest your money, your adults and it’s your money> But should you ever lose it all then your out of the game
That’s in part why we here at theopitonscoach.net use Verticals for downside protection, and say to not only set STOPS, but honor them…….. Today could be big, it has the potential to be really big, up or down.

Rule #1 Don’t lose money
Rule #2 Go see Rule #1
Uncle Warren

S+P Support has risen to 5,875
Time to grind

The Options Coach