MTM Options Trader Newsletter - To the Moon and Other Meme Stock Trader Fallacies

This Week in the Market Did someone say recession? If they did, traders and investors certainly did not hear it as stocks raced to new recent highs and closed strong on Friday. With the Federal Reserve boosting rates and the GDP number contracting two consecutive quarters, many expected a dip in the market. The market had other plans. While a pullback has not yet materialized, an extended market could force stocks to retreat a tad this week. If a pullback does occur, and depending how far it extends, it could set the tone for the next few weeks. Because of the past several bullish weeks, a non-bearish outlook should remain in place until some support levels are broken. Implied volatility levels continue to slip lower with the VIX (CBOE Mkt Volatility Index) getting close to levels not seen since April. Quarterly earnings keep rolling in, but many of the big-name stocks already announced over the past couple of weeks. As far as economic reports go, it will not be as hectic this week as last; but the latest jobs figure from July is expected before the open on Friday. At the time of this writing, there were no expected talks by any of the Fed members. Have a safe, healthy and prosperous week, and do not forget to take some time off from trading when needed!

Aug 1: Construction Spending Aug 2: JOLTS Aug 3: Factory Orders Aug 4: Jobless Claims Aug 4: Trade Deficit Aug 5: Unemployment Read Our Blog

To the Moon and Other Meme Stock Trader Fallacies You've probably, by now, perused the famed subreddit WallStreetBets and maybe some of the others that talk about short squeezes in stock trading. If you haven't, you should. Or maybe you shouldn't. Not if you're faint at heart anyway. (You'll read some profane things you can't unread. LOL.) Short Squeezes in Stocks One of the things you'll come across is people saying "HODL" and "To the Moon." To understand these phrases requires a little history of the WallStreetBets subreddit. This stock trader thread started a few years ago and comprised mainly young irreverent Continue Reading ... MTM Watchlist Here are a few trade ideas we will likely look at in group coaching class this coming week: SPY – In class over the past week, we discussed calendars and bull put spreads as the market moved higher. More bull put spreads around potential support levels will be considered. AMZN – The stock gapped higher on Friday after reporting its earnings. Depending on early week action, potential bull call spreads will be looked at with an eventual target up to its 200-day moving average. COIN – The company is expected to announce earnings in just over a week. The stock is currently hanging right around its 50-day moving average. Potential bear call spreads just above that level may be explored.

Top Trade Ideas for an Uncertain Market Does this market have you scratching your head, not knowing what to do next in your option trading? You are not alone. Join ex-floor trader Dan Passarelli Tuesday, Aug. 2, for a new workshop where he will share: How trading in uncertain markets can lead to great opportunities - learn it live His best secret for trading options during uncertain times His top ideas for trading this week Strategies for being consistent and confident while everyone else is uncertain This event is filling up quickly. Secure your spot today! Register Now

The strategies in this newsletter are for educational and informative purposes only. All information disclosed in this newsletter should not be considered complete in its entirety. Market Taker Mentoring, Inc. will not be held responsible for changes, oversights, errors or omissions. Dates, prices, news and other information may not be accurate. Please verify all information before trading. You alone are responsible for your own investment decisions. Options involve risk and are not suitable for all investors. Before trading options, please read Characteristics and Risks of Standardized Option (ODD), which can be obtained from your broker; by calling (888) OPTIONS; or from The Options Clearing Corp., 125 S. Franklin St., Suite 1200, Chicago, IL 60606. No statement in this newsletter is intended to be a recommendation or solicitation to buy or sell any security or to provide investment or trading advice. Traders and investors considering options should consult a professional tax advisor as to how taxes may affect the outcome of contemplated options transactions. Copyright Market Taker Mentoring, Inc. 2008 - 2022. All rights reserved. Reproducing or redistributing this content is a violation of federal law.

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