OA Buy: JOY

Off the low beta theme, long June 60 calls.

I have a few more ideas, long and short, we’ll discuss after the bell.

OA

Been pretty active off the open today, and it feels like home.

Long BIDU 162.5 weekly calls off the open, and picked up quick swings in ISR and BORN. Still holding MOBI from yesterday.

Stocks are moving, volatility is contracting.

More later,

OA

The more time passes, and the less volatility we experience, the more stocks will heal and the more our environment will normalize.

I still like the idea of trading low beta names here. At the top of my list: F, NE, FDX…and some slightly higher beta in UA, DECK.

I took a quick trade in AAPL off the open, and initiated some TTM calls. Nothing else going on this afternoon, but would love to look over any ideas you are willing to post.

More later,

OA

Our watchlist this week is looking pretty steady – SUNE, FSLR, CMC, X, TRLA, etc. I’ve decided to add a few more low beta names to my plate.

I like Ford here, as well as TTM, NVDA, and NTAP. Looking around, there are some low beta stocks with historically cheap options. I’m trying to find myself a few deals right now in terms of cheap options that could really pay off with only minor stock price movement. We’ll discuss more of this during After Hours with Option Addict later today.

I think we’re still a week or two away from the point where the market speed normalizes, traders reach exhaustion, correlations start to die, and options across most instruments get cheap again. This was our recipe for amazing returns last year, conditions that haven’t existed at all this year.

Start building your lists.

OA

Hard to get much traction on the long side of things yesterday, with the Russell sagging against the trend in stocks intraday. Today, different story. It led the post-fed breakout.

As you know, off the lows, this is a great signal of risk on. This might give us a buyable dip tomorrow for a solid risk-on day. My upside target is still 4175 in the Nasdaq, before things pause.

At the top of my lists: FSLR, SUNE, CMC, X, MNST, PXD, TRLA

Per our discussion last week, I bought shares of EXK here this morning.

More later,

OA