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,
Founder, Profit Takeover
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
- 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.
- 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.
March 25 2022