UOA Essential – This Week’s Names Wrap 8-7

8-7

Hey Rebels! This week brought strong gains across the major indexes, helped by solid earnings, strength across technology and AI-linked names, and easing expectations for a September Fed rate hike.

$SPY traded at record highs, while $QQQ led the charge as technology and growth stocks regained momentum. $DIA also put together a strong week, and $IWM participated in the move as strength broadened beyond just the mega-cap names.

The VIX is finishing up high 14s/low 15s.

BTC chugged higher but did not have an explosive move. Overall, risk appetite improved considerably this week, but with the indexes back near record territory, disciplined trade selection remains important.

AMZN moved for a quick single and sold off.

MSFT rallied nicely as did GOOG before it sold off.

IREN and BABA failed to get moving.

DOCS had a huge earnings move but as noted in the log, not an easy trade to take for earnings, those that did scored big,and some may have stopped out before the move or not taken it all.

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!