The Profit-Making Strategy in My Morning Routine

Dear Profit Takeover reader,

The market did not feel particularly strong on the open.

I couldn’t explain why, but things seemed a little soft.

SPY dipped about 4 points mid-morning and is now recovering to about 451 at the time I am writing this.

I hesitate to make many plays on days like this when the market moves a lot, but in no particular direction.

And in the Profit Revolution, sometimes I say:

Some days, the best trade is no trade…

But whether or not I put on a trade, I always have the same morning habits when it comes to trading.

I like these early Friday shows because you get to be a part of my morning routine…

During today’s Profit Takeover show, I made a point to mention how important it is to make sure your positions and exits are laddered.

This means, when I get up in the morning and check my portfolio, I make sure to set exit points so I can take profits off at different levels – especially on butterflies.

Before I end my morning trading routine, I take a look at my cheap strikes scanner…

This scanner doesn’t show the direction of the trade (up or down/calls or puts), but does show me inexpensive strikes that I can consider for options trades.

I use this list as a “watchlist” to come up with trades in the Profit Revolution each weekday.

My Watchlist for 3/25/2022

BITO 28 & 28.5 strikes * 52WkIVLow
UVXY 14 strike
RIOT 21.5 strike
MARA 30 strike
LCID 25.5 strike
ABBV 160 & 162.5 strikes * 52WkHigh
EWZ 37 & 38 strikes
SOFI 9 & 9.5 strikes
AMC 20.5 & 21 strikes
AAPL 172.5 & 175 strikes
TSLA 1005 strike
IWM 205 strike
TWTR 38 & 38.5 strikes
MRNA 167.5 & 170 strikes
FCX 51 & 52 strikes

Thanks again for coming along with me during my morning routine today –

You can watch the replay right here if you missed it.

Until next time,

Mark Sebastian
Founder, Profit Takeover

VIX LIGHT

My VIX traffic light is still yellow… but more like a sun that’s setting, and could turn red soon.

VIX is currently up after being obliterated yesterday.

Image from Yahoo Finance

I am still expecting wild moves for now – but my VIX traffic light may change next week.

ONE-YEAR ANNIVERSARY EVENT

Replay Here

TODAY’S WATCHLIST

1. United States Oil ETF (NYSEARCA:USO)

The last time USO spiked, it peaked at around March 7th and touched 82.

Image from wallstreet.io

Implied vol is about 20 points lower – we could still see upside in oil.

I could be looking for a call on the upside here.

1. Delta Air Lines, Inc. (NYSE:DAL)

Massive April options calls on the 40 strike in DAL

Image from wallstreet.io

Open interest has expanded in Delta.

This is the largest strike in anything across DAL.

I took a look at DAL today during the Profit Revolution show.

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