Last week, the stock market displayed a significant upward movement, continuing the positive momentum observed since the end of October. The S&P 500 ETF (SPY) increased by over 7% from its October 27th closing low. In a similar vein, the Nasdaq 100 ETF (QQQ), which predominantly comprises major technology stocks, registered a 10% rise from its October 26th closing low. Analyzing these movements from a technical perspective, the market trend has shifted from bearish to neutral. For a transition into bullish territory, both SPY and QQQ need to surpass their respective highs from July. The QQQ is nearing this threshold, while the SPY still requires approximately a 4% increase to achieve this mark. In light of these developments, we're adopting a neutral stance with a double diagonal strategy on Salesforce (CRM), and a bull call spread on undervalued Edwards Lifesciences (EW). Read More

An ex-dividend date on Thursday means that a closeout prior to Thursday for a 100.0% profit is the correct course of action. Read More

The S&P 500 and Nasdaq 100 witnessed their most robust performance last week since November 11, 2022, an encouraging sign for investors seeking a market rebound. Remarkably, small-cap stocks outshined their larger counterparts by charting their best week since February 2021. With volatility swiftly receding, the stage is set for the strategic deployment of double diagonals—a versatile option play well-suited for our current market climate. This week, our focus pivots to a carefully constructed neutral double diagonal on Costco Wholesale (COST), complemented by a bullish call spread on Merck & Co. (MRK). Read More

This week we only have one roll on Electronic Arts (EA), along with Marriott International (MAR) expiring for a nice 12-day return of 28.2%. Read More

Reported closeout fills on Advanced Micro Devices (AMD) double diagonal have been verified. Therefore, we are closing the trade. Read More

The bearish market conditions necessitate three early rolls, but on a positive note, there's a potential rally looming on the horizon. Read More

To capitalize on the ongoing heightened implied volatility, we're once again implementing an earnings iron condor, but this time on Stryker (SYK). Additionally, in response to oversold conditions, we're initiating a bull call spread on the Standard & Poor's 500 Index (SPX). Read More

One roll to finish out the month of October. We also have Eli Lilly (LLY) expiring for a substantial profit. Have a great weekend! Read More

It's been some time since we featured an earnings iron condor strategy. However, with the recent uptick in implied volatility and the VIX climbing back above 20, employing earnings iron condors has regained its appeal. So this week we are recommending an earnings iron condor on Marriott International (MAR) and a bull call spread on Intercontinental Exchange (ICE). Read More