UOA Essential – This Week’s Names Wrap 7-24

7-24

Hey Rebels! This week remained choppy and defensive, with earnings volatility and rising macro uncertainty making it difficult for the major indexes to build consistent momentum.

$QQQ took the brunt of the selling as concerns surrounding heavy AI spending and weakness across mega-cap technology and semiconductor names weighed on growth stocks. $IWM remained mixed as small caps continued to struggle with consistent follow-through.

The VIX pushed higher during the week as traders increased their demand for protection. Oil prices surged sharply during the week amid escalating geopolitical tensions, adding to concerns surrounding inflation, interest rates, and the broader economic outlook.

$BTC and crypto-related names remained under pressure and failed to provide a meaningful risk-on signal. Overall, the market continues to feel selective and headline-driven, making patience and disciplined trade selection especially important.

IBIT failed to get going with the sell off in Bitcoin .

DVN made a solid move higher with oil and AXTI was a tricky one that has sold off.

ZM did not get moving.

SBET just missed our target 1 and UEC really could not get out of its own way.

When not holding strong opinions, we normally close out entirely and start next week fresh.

When holding strong opinions, roll out in time and to a lower delta option.

When still wishing to have somewhat of a lean, close half and roll out half to a lower delta position.

Enjoy the weekend!