Ultra Wealth April 29th, 2024

Okay, well just as a tiny small reminder just to make sure everyone's comfy. So we're still meeting tomorrow.

And we, we are also meeting Thursday. So tomorrow, Thursday those will be our last quote unquote options, focused collars and all that kind of good stuff. Tomorrow we have that, our last bonus advanced options class and discussion. And and then Starting next Monday, the 6th of May, we will be discussing real estate. We're going to dive into some of the taxes and all kinds of cool stuff. So anyway, that's a little bit about what we got going on. Let's go ahead and talk through Tesla for just a moment and kind of give my general consensus.

Before I, I guess I dive in. Does anyone have any specific questions on.

Tesla?

Do you think it'll have a sell off at the open?

Well, let's talk about it. All right, so if I'm looking at Tesla, what I gotta do? Same process with everything. So I, I am in this bear call spread. You guys all know that I'm in long. I think most of us are probably in long with some shares, most likely long term. Eric's got his put sales that he's happy about.

And so this particular gap, what we gotta do is we've gotta cycle through all the moving averages, right? We got, we gotta go through everything and just kind of look at it. Because if you remember we talked about. So Wednesday you had the 10 EMA candle, right? Huge bear volume.

Indecision candle close above the 10 EMA. And then surprisingly we got a close above the high of that candle. Sue wire closes above resistance or below support so strong.

I'm not sure exactly why they are, but it just shows the trend is jumping above the previous level.

Yeah. So I mean really closes. They just kind of give you a finality, right. Like they, they show you with evidence and with like concrete information. Bulls won or bears one and so people actually know for sure. So it's not really like, oh, I don't know who's going to win. When you have indecision and then you get a really good close past that indecisive level. That's usually again a relatively decent signal. So you, you were above the 10 email, you had the big bear volume, this purple circle. Does anybody remember what we call that?

Island reversal.

Island reversal. You got it. Yeah, just like a random chart pattern. But really what that is, is it's when you have double gaps that are providing as. So you have a gap down here and you have a gap up here and both of those gaps are simultaneously like I don't know.

Still open.

Yeah, exactly. Thank you. Yeah. Thank you. Yeah. Still open. Yeah. So both those are still open. Add a little bit and that can be a reversal signal from the bottom or the top. But anyway, so now what I'm going to do is I'm just going to go through our general consensus and our general process that I do on every single trade, every single gap, all the time, no matter what the company is. So I'm gonna go and pull up five moving averages, 10, 20, 50, and on the three major timeframes, daily, weekly, monthly, and just kind of see what's there. And so one of the things that, that I like is that we are gapping up and we're above all the moving averages, which is nice. I think we're up like 6%, 7% in the morning. Give me one second. Yeah. Wow. Okay. It's 11% now. It was six and a half, so 11%. So that's, that's a big gap. It's about the same size as the, the earnings gap. So we have a big gap up. All right, so I'm a pop over to the weekly chart and the weekly chart. We are interacting with the 20 EMA on the weekly. So what that tells me is that yes, most likely after that gap up, we will have a little bit of a pause at open.

We, we can always pump a little bit because we have a, a bear candle right on the daily chart. So we're gapping up into the 20 on the weekly. And then if we go over here to the monthly chart, the cool news about the monthly. No moving averages in the way. If I hide this little drawing here for just a second. So there's no moving averages in the way. You got the 50, but that's all the way up there at 196. Right. So plenty of room.

And in the long terms, we know there's nothing there on the monthly. Right. We were hoping that we would get down to 119 so we could buy a bunch, but we didn't quite do that weekly chart. So the weekly, the moving averages are really, really, really far away. And the daily charts and moving averages are relatively far away. So 198.94, which is the 100 on the daily. What other big important moving average was there? Right. We go back and we look at it on the weekly. If we remember correctly, we'll notice that the 50 was right there, very close to that. But most Importantly, the monthly 50 EMA tom is at 196.49. Right. The monthly 50 and then back over to the daily 200 and 100 is 198.94. So what that tells me is we're gapping up into the 20 EMA on a weekly. It is a bullish gap and go, which is a bear candle gapping up. We are gapping above some support and resistance. But my thoughts, Tom, since there's a gap to fill right here, we probably fill it a little bit. So we gap down, we trade down into probably this particular price and then we start pumping. And realistically, as far as moving averages are concerned, depending on how we interact with 188.62, it would be my consensus that we hit 200 pretty quickly.

Which is the very, very close to 200. So that 196 to 198 level, which is the 50 on the monthly and the 100 on the daily. So that little pullback into 185 is going to happen today. And then I think we probably go higher the rest of the week. We got a full week of price action ahead of us.

That's my thoughts. What do you guys think?

I like it.

All right.

You guys have, some of you guys have bull positions. Yeah. Okay, cool.

I'm very happy. I got a swing on TSLO last week. There you go above that big indecision candle.

Yeah.

And yeah, it's like, like one R right now.

So good job, big guy.

Yeah, well, that's a couple of short, shorter term shares or Sorry, I picked up a couple shorter term calls on Thursday when it closed above just before close there. So yeah, just for absolute zero. So they should be okay today.

Yep. Good for you, protecting yourself a little bit. So for those of us in the spread, here's the great news. We have tons of time to expiration.

So pretty simple. But the way you unravel a spread.

It'S really, really easy. When I say unravel, that means that this spread is at this particular point, it's pretty obvious to me that it's in danger, meaning it's in danger of like the stock going past it. And so if that's the case, what that means is we need to make sure that we're not in that spread unless we're comfortable losing and we want to lose. And we're okay to lose the entire amount because with all the time that's available, we could invert. Well, might do this and then do this.

That's very possible. So if you want to sit back and hold, I mean, if it's A paper trade, like, don't do it, you know, either don't do anything or unravel it. And what an unravel means is try to make the most on that position.

And the way that I'm going to be doing that is sometime today when we pull back to like 184. Essentially, the highs of these. I'm gonna move up this little dash line. When we retest that either today or tomorrow, I'm gonna buy to close this 185 for a loss.

So when we originally sold it, I'm gonna make up some numbers a little bit, but I think it was like 2:70 or something.

Well, when we sold it, that particular call option, right, let's say that was 270. When we buy to close it, it's going to be like 690, right? Which means you're losing money realized on that call sale. Now, the cool part about options, again is it doesn't really matter, quote, unquote. The strategy, right. The strategy is irrelevant, Tom, on anything that you're playing. What really matters is just how the position's moving. So if you sold calls, if you're in a covered call, if you're in a collar, if you're in a debit spread, or if you're in a bear call spread, the sold call will.

Lose value.

Because you sold it. Calls are supposed to go up when the stock goes up. So that's what it's going to look like if you sold that particular call option.

Now what's going to happen to the 190.

Go up in value?

Exactly. I was going to go up in value because that's the one that we bought. So if we bought that one and we bought that one for 220.

When slash, if we buy back to 190 is going to be trading for probably around 525, something like that.

So this is roughly very, very closely to what it's going to look like on that particular bear call spread. These are gonna be like the numbers of the actual options themselves. So, Jeremy, really quick, hit me with some math. If we buy the close the sold call, the 185 short call, will we lose money?

Math.

I love you, Jeremy.

The brain's not braining. Yes, Matt. Math says that we will lose money right on the sold call because we sold it for 270, we're buying it for 690. So we lose $4.20 realized loss.

Okay, so if we had a 4.20 real realized loss, Nancy, what price do we have to Sell the long call. Ms. Super Tired. I've been traveling a bunch. What price do we have to sell the long call to make money on this trade?

Let's see.

You said it cost us $4 and 20 cents. Yep. But we made 50 cents when we bought it originally. So that's down to $3 and 70 cents. So $5 and 90 cents.

To break even. Almost very, very close. So we have to factor in this particular option price here. So that 220,000.

That's the value of the option that we have remaining. So we have to sell that for $4 and.

20 cents more.

Which we have to sell that for 6:40 at least. So just as a reminder what where those numbers are coming from. This is the number that the option costs when we sold it. This is the number of the option that we're going to buy it back for approximately which is a loss. We still have this trade. So we that once we buy back the sold call, we no longer have a sold call. It's gone. We lost money. Now we just have a long call. Eric, do long calls make money when the stock goes up?

Yeah.

Yes, they do. So we realized the lost money and that was a realized loss of $4.20 according to this math. Right. Bought it. Sold at 270. Bought back at 690. The other option, though, it is a long call option. So it's going to go up in value. If we sold it at 220 and now it's 525, we know that we have to at least at minimum to break even, sell it for 640, which is $4.20 of the loss added to the original cost of the option.

I have a question.

Yep.

Did you. Did you. You bought it at 220?

Yep.

Or.

Okay.

Okay.

That's exactly right.

I thought. I thought you said sold it, so I was getting confused. Sorry.

You're okay.

I might have.

I got a quick question too.

Sure.

This is kind of what I call it as a vertical.

But when I go in, if I buy a vertical and this is the spread that I do on it, you know that same thing. How do you close out just the cell and not the bought one? If you just. If you just buy another contract, it automatically cancel that out or.

Because you'll.

Have to go in and. And select that individual option contract from either the option chain or your positions tab and actually close that one particularly out.

If you buy it as a vertical, don't they connect to each other? Or you can separate them after they.

Buy you can always separate them. Yeah, easily. The big question is just to make sure and I'd have to look at your position. So we're welcome to do a screen share if you want. Did you buy this vertical or sell this vertical?

I did not.

Okay, well, because if you bought it, that means it's a debit spread, which means you'd be making money on this trade. If you sold it. Right. That would be a credit, which means you'd be losing on this particular trade just as a distinction. But yeah, absolutely, you're 100% correct. You can still go in. And what you would do is you would go into the actual option chain because the options, the actual option chain, when you go into that 185, you would buy and just make sure instead of you buy to open.

You buy to close that exact option contract and it would cancel it out. Yeah, it's a great question, great question. Even though you did it as a vertical. Yeah, even, even though you did it as a singularly attached order.

I bought puts when it was coming into earnings because we, I thought it was dropping. That was the trend.

Yep.

There goes a thousand bucks.

Yeah. What are your, your shares going to make money though, right?

My shares are coming back, yeah. Well, today I'll be positive on my shares.

Yes.

So.

Beautiful, beautiful, beautiful. So you had insurance over do the opposite. What I do just gotta start writing a book. Just send another newsletter. The opposite of Scott. Yeah, no, the, the puts I had also lost over earnings as well. Yeah. Because we, we gapped up on earnings which again this is, this is good.

Right.

We found four or five days worth of data on Tesla after earnings have happened. So even though our shares, if we are in long shares, they are obviously making money over the last five or six days. Any bearish position isn't going to be making money. That is correct.

The stock doesn't make any sense to me because the same news was out on Tesla going into earnings. Earnings was bad. And then more bad news came out about it and the stocks rallying. So it just doesn't make any sense to me.

Yeah, I think the, the big news story that's, that's everyone excited about is this full self driving.

Yeah.

The thing with Baidu must go over to China and had a big contract with Baidu which is like the Google of China.

And that stock is also polka traded. But yeah, the Google of China was like, sure, we'll help you. You know with all the, the mapping and the driverless car features and all that stuff.

I didn't hear about that.

Yep. That was the, that was the big news. Surprise visit to China.

Yeah, we talked about that in the office. Because then everybody's like, what would you do while the car's driving? Like, I don't know, sit in the passenger seat and enjoy myself?

Pretty much. Yeah. It's the same thing you do when you Uber, you know?

Yep.

So whatever people do in the Uber, Uber cars, I usually talk to people and try to give them an rlt. That's what I do.

But yeah, so that's, that's kind of what we got on, on, on Tesla. If, if anybody's in some shares and you want to do some covered calls, Tom, I'm gonna wait probably.

Most likely until we hit this hundred.

Because there's really not a lot stopping us again, if we're gonna get over that 20 EMA on the weekly. And this, like, this little gap area right here, again, very well could fill today. But until we do that.

Even if we do that, I, I don't think there's a whole lot stopping us until 200. Because again, just like Scott said, I'm really trying to factor in the sentiment of the stock. There's me a lot of people that are going to be. There's a lot of shorts that are losing money. There's a lot of people that expected it to go down on earnings that are losing money overly. And then there's a lot of people that are just like, why is Tesla going up? This doesn't make any sense. The earnings were terrible and they were, they weren't good. But what. This is a good lesson for anyone who hasn't traded before or hasn't traded for a long period of time. Stocks, not only Tesla, but Apple, Target, Walmart, Costco, Amazon, Google can have terrible earnings and gap up or have great earnings and gap down. And generally it's, it's not because of.

I, I don't think it's necessarily a quote unquote market manipulation, but I really think it is. Is just a lot of people going, okay, cool, earnings were really good. We made a bunch of money. We're really profitable. Let's sell our position and lock in our games.

Right? Or if earnings are really bad, people are like, okay, cool. Well, can't get any worse than this, so let's buy the stock. Essentially the contrarian viewpoint, right? When something is really, really bad and really low, that's usually when you want to buy it. And I know we all know this, but Tesla has, has been or was down what, 70?

You know, I mean, from the high to where it was the other day is. Yeah, 66%. That's a lot. And even though earnings weren't great.

I. And I agree with that. They weren't great. If you click on it right, they made $21 billion of revenue, which, like. Oh, that's, that's whatever. It's like. Well, back in 2020 they made 6 billion, and then 2016 they made a billion. So in eight years they've 30x revenue.

So, Scott, I know you have a business.

I'm sure you'd love to. 30x revenue in the next six years.

Quarterly revenue.

Now anything over a billion is excessive, you know.

I agree.

Yep, totally. So anyway, that's going to be. This is. This is fun. Yeah, this is going to be. This is going to be interesting and enticing and cool. Let's go look at TSL for our boy Jeremy. So he has himself a. A long call. You said you bought a what. What call option did you buy? The bearded.

Oh, no, I just, I just. I got in at.

What did I get in at? 924. Just a swing trade.

Oh, just. Just straight up shares. Yep. Easy enough.

Nice, dude. It's cool. Yeah.

Nine.

No, sorry. 732. That's right, 732.

Why'd you do that?

I like that close above with that big bear candle. And I was buying shares of Tesla on.

I forget what day it was like at the end of last week, remember when you said, if it closes above that indecision candle, you're gonna buy more shares? So I was buying more shares and I was like. And I was looking at the TS TSLL chart and I was like, I am willing to try throwing a swing trade over here.

And I just, I marketed it, I marked it, mark it in at the end of the day for that swing trade.

And.

Yeah.

And now it's up like 1.4 R. Great job.

Great job. Well, I mean, but it's a. But you had reason and rationale from a tenant play that long. Yeah, yeah.

Honestly, because you point out that island reversal. I wasn't familiar with that. I would have wait. Because I would have waited for it to pull back and then get in. But because you're like, that's an island reversal. I was like, oh, this thing's probably. I'm like, if. If it reverses, it's just going to keep going. So let me get a piece of that.

Yeah, cool. Well done, buddy. Awesome, awesome work.

Does anyone else have any questions, thoughts, or anything they want to review on their Tesla position either put sales calls, shares.

Cool. Well, here's the good news again. Like, like Scott said, I mean if you're, if you're going to start getting positive on your shares now, like if you've been buying on down days or.

I guess essentially whatever.

Sometime soon will be good to get into a collar.

I mean it's, it's up 12, 13%. You know, it's trading to some resistance as it trades up into here. Like this will be a really, really good little spot, you know, because you still have another gap technically that's unfilled very close to the hundred. You know, so you get into a little collar up here, sell some calls, depending on where your cost basis is, maybe buy a put and then, then you can tail into the sunset.

Yep.

Jeremy, what do you have on a, on the A wave Count on that? Because I, I have it in like a. A four going into a five or the beginning of a five.

Am I wrong in that?

I don't know which. What's. I guess which time frame? Right. Do you want me to share your screen? I'm.

I'm on, I'm on the daily chart.

Got it. So daily. So you have.

Is this your three?

That what? Doesn't look the same. Am I on the wrong chart?

This is. Oh.

I'm over a really long time frame. So.

1, 2.

That was actually from my weekly.

I have. I, I never mind. I had all three of my monthly, weekly daily charts on here.

Gotcha.

So that was like a big wave three.

Gotcha. Gotcha.

To wait for. So. Okay.

And that, and that could still be the case, you know, I mean for sure. This, this is the weekly chart. And so again we have a lot of volume coming on a weekly, which is nice. Again, big gap up. So there'll be some, some excitement slowly starting to trickle back into Tesla, which is pretty.

Monthly chart. I was hoping that the monthly chart like this would be the candle, but it's not. It will be a nice hammer, but it won't be like this.

Yeah. So anyway, all is good. Yeah, it's gonna be fun. It's gonna be interesting. Very, very pumped to see what happens. Love the gap. So this gap right here will fill this little gap down again. It could very easily happen today, but the high of this gap is 184, 59. 184. 5 9.

So again, it doesn't have to retest that much. And again, the only reason I think it would retest a little bit is just because of.

Just how straight up how straight up it is, you know, pre market. Like you might get a little bit of selling and then that'll be the buying opportunity. But the gap is great. I'm not saying it has to retest because the gap is weak. Make sure, make sure we're clear on that distinction.

All right. Family, sweet. Good stuff. Good review on Tesla, the Tesla machine.

What else do you beautiful people have in your portfolios that are doing something cool this week or this month? Let's see what Joe, Joe, crush her some Google. Look at this gap up. Good grief.

What a strong gap up. Scott, you still in your shares? Big dog.

Can't hit the button? No, I got called away on another call that I did on it.

Cool. All good, all good. Locked in profits. Well done.

And Joe, I guess trades doing good though.

Yeah, Hess looks awesome. This looks really, really pretty good wave count, good chart. Good job doing the analysis on that. We'll look at that. Just like you and Eric are both in oil pretty nicely, which is beautiful. Yeah. So Joe, what's your thoughts on your Google? You're gonna get. You call it only half your position anyway though. Yeah.

Yeah. At 165. So it's gonna be, be a bit of a waiting game again, see what it does. Sure. I don't know, potential to bounce around a bit, so.

Okay, sweet.

But yeah, I still have half of them with nothing on it. So let's see what happened and maybe sell a, a call at a higher price if it pops.

Yeah. Nice. Yeah, beautiful. Beautiful. Retest gap gapping up to an all time high. Interesting little gap down this morning. What's the broader market? I haven't even looked one Tesla. Broader market's gapping up. Okay, cool.

Do you, do you think that one week pullback that we had that was like 6% or 4? You know, whatever it was, that was the big pullback or is that just scared news from the war that could have broken out and then we're still looking for a bigger pullback.

This is all we needed. This is it, man. Nice. We, we fill this gap over here, we pull back into the 100. I mean we can, we can still get something like this. That's, that's very reasonable. But yeah, this is the main one.

Yep. I don't, I didn't really expect us to go much lower. Me again. We can still kind of pop around a little bit like this, but that'll be the big, the quote unquote scary one that we just really needed desperately. And, and people were panicking too. Everyone was losing Their mind, it's like, oh my God, the market's, the market's ending. It's just interesting how quickly people get scared when they're, when their accounts are losing.

That's why I had that, had that little pep talk on that Monday, April 22nd before open was like, guys, it's all good. Remember, we wanted, we wanted to pullback. We got a pullback. You bought some positions low, congrats.

Buy low, sell high. That's what you want. That's what we need. We need pullbacks and markets. It's just, it's a discount game now. I, trust me, I get it when you're like, well, how do you know for sure? I never know anything, quote unquote for sure, generally when it comes, like, what the market's gonna do in the future. But what we can do and what we're able to do is we can have a pretty good plan. And depending on how much you practiced the chart reversals back in January, it's like we have forever to go until that opinion would change, you know, because you have to make lower lows and lower highs for the trend to really start to become questionable. So again, we can still make it back down to here because this is the, this is the previous all time high.

And that wouldn't be that big of a deal. I mean, that wouldn't be terrifying at all. A little bit of a dip, a little bit of a B wave, a little bit of a C wave. And there were, you know, kind of back off to the races, that's perfectly fine. Really reasonable, makes a lot of sense to me.

But just kind of analyzing it, in order for that to happen, like, we got to continually, perpetually make lower lows and lower highs. And I know it sounds crazy, but when the market was quote, unquote, tanking back in 2022. And again, just as you likely, most of you all know, this was a warning reversal because it had a lower high, as you guys can see. And this right Here was a 10 EMA set up on a weekly chart. So that was a warning signal. So I made, we made a little bit of bear money here.

But I was going long. And I went long just like on any other position off of the hundred, like up in here. So I still was going long. I was like, oh, cool. Awesome. We finally got a good 15, 10 pullback. Let's get it right. And then chart pops has a nice little move. And then three, four strong weeks in a row, I'm positive equity. What compositions do I get into? Eric so you bought some puts. Bought some puts, sold some calls, right. Got into a bunch of callers. I was like, all right, cool. You know, if it goes up, great. If it doesn't, whatever. And it did not. It did not go up. Went straight down. And again, we can look at. On the weekly chart, you'll see that we were interacting here with the 100 from the bottom, Tom. We closed below that major support. And so it was at that moment where I said, okay, I think this is going to get a lot worse. And it was a close blow, that support. So what I'm saying, and I'm one of the best traders that you'll ever meet in your life. It took. It took the market being down 20% before. I was like, okay, I think that this is like an actual legit, legit pullback.

Like a big one. And I got called away. Sorry. I got my. A lot of my shares got put away from me for either very small losses or very small gains in April of 2022, March of 2022. Square, Shopify, PayPal.

Tesla, a few other ones. Like some of the bigger names where I had a caller. And I either won small or lost small, but I was happy to be in cash.

And. And then when the stock was going down, right, it was like it was going down. It was going down, it was going down. I was, you know, either picking up some shares, day trading, being a little bit bearish, having a good time, and then a lot of people may or may not remember, but when this was happening, I did. I had no long positions at all. And then went very, very aggressively short right here.

At all threes. So I say aggressively short. I mean, I literally was telling everyone, I was like, I'm gonna short everything at this price.

With both hands. So sell it to open, buy, put, sell calls, get in bearish. It's gonna go lower.

And it did. And that was. And. And if you're like, oh, that's. That's mystical. It wasn't. It was just a wave count. This. This was a wave three. I mean, don't think I'm cool like that. That's a wave three. This is wave four. This is wave five. That was it.

So hitting the 100 there, too. So.

Yeah, yeah, exactly. There was a bunch of things. I was like, this, all right? And again, I could have been wrong and I would just. Would have lost money. But that's one of those situations where you gotta. You gotta do something with your analysis at some point. Otherwise, why are you doing all this analysis for.

So Saying all that to say if we're gonna go down, we still could. I mean I'm gonna, I'll be saying bullish the whole way down until we started taking out some lower lows and lower highs and we can start protecting ourselves more aggressively on broader market stocks. So so far it looks like that was the pullback.

Do you think Google's going to fill.

That gap and get down to the 160s.

60? Yeah, at some point, at some point there's a gap will fill. I mean it's a, it's a retest gap at an all time high. A bunch of bull candles ahead of time.

Yeah.

So if we're long in Google.

And.

You can either get into a caller not today's not probably a good day to do that. You got to buy a.

Put down there. But.

See I'm, I'm in profit in Google. I could just liquidate everything.

Right. Because my basis is like 137. So I'm, that's what I'm considering just getting out and rebuying in the 160s.

You certainly can.

Yeah, that's, that's easy. Either that or like you said, do a collar, sell calls, buy puts.

Yeah. That way if it goes down to the 160, you know, if it goes lower, you'll, you'll make money on your long puts. The puts that you bought will have gone up in value and then you can sell the long puts for a profit and then use the proceeds from that put to buy more shares of Google. Yeah. And then you would also close out your sold call for a profit and again use the proceeds from that to buy some more shares of Google. And usually it's not, we're not talking a bunch of shares as Joe now knows. I mean, you know, it might be 2, 3, 4, 5, 6, 7 shares depending on the option premium. Like it's not a lot but essentially they're free. Yeah.

And, or yeah, like you said, liquidate. And Tom, you can sell some puts to get put shares if it goes down or just leave a limit buy order open to get filled on the position.

It's so cool, you know, options man, because you have literally so many options. So this is available. It is wild.

But congrats man, on being in at 137. That's amazing. Thank you. Yeah. And you and you and your boy Scotty are crushing some of the, the energy socks. So Hess had a good rotation and Scott, you had a really good, again, you had a great wave count, right. This, you thought this was Going to be a wave four, correct?

Yes. And then I can pull it back up quick.

When it gets close to back at that all time high again, I'm gonna probably end up cashing out.

Sure.

Just so I know that I, you know, I bought in at.

154.20.

Yep.

That's actually. I have this as a wave count. Three going up three. Because I have an ABC reversal coming down. And then it was a one. The pullback was a two, then it's a three going up.

Oh, nice. Beautiful. That makes even more sense. You had over earnings. Look at all the strong candles that came in.

So that means if we get a three, then you have a four. Yeah. And then you get a five.

So that means you get to sit around a little bit longer and enjoy the pump.

Yeah.

I only did a swing trade on it, so I went based on my hours. I wish I would have did more because it was doing so well, but. Yeah, a win's a win. It's confidence builder, Right?

Yep. Exactly. Exactly. Just helps you see that you, that you see things correctly and that you understand things correctly and that you can.

Yeah.

Draw the count. Exactly. And then. Yeah. Chevron. There's your Eric. Sure. Are you out of that cover call, Eric? Are you still in this 167.50?

I'm out of it. But the amazing thing is the Hess chart and the Chevron chart are exactly the same. I got in at 154.90. He got in at 1:5420. And the count, everything is exactly the same. You had the Hess up and I was looking at the Chevron at the same time. It's amazing.

It's the same. Yeah.

Beautiful. Yeah. Isn't that crazy market oil, so. Yeah, exactly. Yeah. Oil is going to all. Yeah. It'll all move similarly. You would imagine some degree.

Cool. And you're not. So you're not in any cover calls or anything. You're just hanging out. Eric. And this.

Yep, yep. I am just hanging out right now. See what we can get a. Yeah. Any day here. Well, like I, I, I looked at that the other day and there wasn't a lot of premium.

Yep.

So I guess it's what oil is. It's not as volatile. Right. Dividend paying, nothing radical. Nobody gets scared and reacts. So it's more.

Steady.

Yeah, exactly. And the times that. Yeah, yeah, you're, you're correct. You're not going to get tons and tons of premium. Some is always better than none. But if, if you're Going into earnings, that's the best time to get the most premium on E stocks ever is because of the.

Because of the earnings report. You know, like, the volatility is so high and people are either scared or terrified or worried or. Or whatever, however they feel.

Then at that point in time. Right. Starts to go. The options themselves, the option values essentially get artificially inflated because people are. Yeah. Scared or whatever. And. And then after earnings and everyone kind of calms down. Yeah.

Yeah. Sweet, sweet, sweet, sweet. Me and Joe sold a bunch of puts on Mara and Riot. And so those puppies expired. Those are gone.

That was the one, Scott, that you sent me, man. This was just such a really, really beautiful wave count. So this is Marathon Digital Holdings. They're the bitcoin miner when they were down there at 15. So you had the 200 simple on the daily. You had the 200 simple and the hundred simple on the weekly, and then the hundred simple on the monthly. So they're all kind of converging right down there at 15.

Had a really nice pullback. Good support, Tom. And I know that sounds kind of obvious, but, like, have we been down here before? And bounce, you know, same, same exact price. And the answer is yes. So sold some $12 puts, picked up a share or two, and that's having a little bit of a bounce or had a little bit of bounce. Coinbase.

Bunch of people in some put sales on coinbase around this 100 earnings are coming around the corner on Coinbase. And the cool news about this one is I don't really have any ultimate fears or thoughts realistically. I think that we probably gap up and trade down is the most likely scenario. That seems to me on Coinbase.

And again, a gap up just means that people would be really profitable on some of their positions. You can see yesterday, which is Friday, a big bull candle came in. So there's a lot of buyers, a lot of profitable buyers. The trend is bullish, everyone. You know, Coinbase is making tons of money on crypto chain crypto commissions right now. And they're again, they're mostly software. So they're a software company that has a bunch of assets that are. That they own, that they sell to people for a commission. So it's good business to be in.

Not a lot of downside for them, realistically, even if, I mean, if crypto goes down, they go down, but they still are making a bunch of money on commissions because people are still trading them and they're the only publicly traded crypto exchange.

You know, so that's That's a big deal. I think.

So. Anyway.

That'S coinbase. Here's your apple, Eric. Big double a PL, baby. Up one 173.

Nice.

What you doing on this bad boy today? Anything special?

I am going to see you're still.

In that covered car. I. You're just chilling.

Yeah, Yeah. I got a 5-24-185 call.

Yep, yep.

So that's.

I'm glad it's going up for you, man. Yeah, Yep.

Get to the 180. My basis is like 183, I think.

Yeah.

So then I'm going to get out of it and do something.

More volatile.

Something with more movement, something in a better wave count.

Yeah.

Yeah. Well, I mean, hey, this was. This was a fun little good pullback into the hundred on the monthly. Man, look at that beautiful balance. Geez, I love that moving average. It's crazy.

It's so wild. Just you could have been playing that since last year, you know. Pullback to the 100 on the blip, man. So fun.

Such a wild, wild thing.

Okay.

What'S that, Sue?

I'm just repeating my 100 on the monthly.

Yep, yep. Very fun.

Very, very fun. Okay, awesome. Let's see.

There'S anything else really fun or interesting or unique to go through a look through. If anyone else has any other positions, let me know. I'm starting to build a little bit of a position among GO database. I've been picking up some shares while it's down here at the long terms. On the weekly, this was a wave count for me too, that this was the end of a wave 5. Essentially all this was some kind of 4. And this was either an ABC/1, 2, 3, 4, 5 on a smaller time frame. So I'm back in on some Mongo database. Carvana had a really beautiful day.

Who's in? Carvana. Does anyone have any positions in this one?

Cool. So yeah, Carvana is getting that pump again. Earnings on this one's gonna be very interesting. Back over here to finviz. Let's go look at Carvana. We talked about this in February that you got that you all might remember. We were talking about gaps and everything. The short flow on Carvana is still 30%. Wow.

Wow.

You guys remember what that means, right?

Yeah.

There's a lot of people betting against this stock. So just continue to keep this one on your list. I am. And because there I. I can't find any real moving averages that this thing is. This is below.

So we just retested the 50 EMA on the monthly and then the weekly. You know, you're above 1020 and then the daily. We had that, we had a little bit of a pullback, but pull back into the support and just a little gap and the 100 and 200. So essentially on earnings, my, my real hope is that we gap down a little bit. Have a small gap down. So keep this in mind because this earnings right around the corner. So I'm kind of hoping we either gap down or we open maybe up a little bit, we trade back down to here.

And if that happens. Right. Just nail it again.

So that's Carvana.

That one's gonna be really interesting. Nvidia just so powerful, so strong. This is such a crazy stock. That big bear volume that came in here on the 19th. Jeremy, what do you think these bears are feeling that we closed above this, this level?

I'm, I'm sure they love it.

They love it, I'm sure.

Yeah, they're so pumped.

They're so, yeah, they're so happy. Like they're getting ready to buy.

Yeah, they're starting to feel the pressure for sure.

Yep. A lot of people were shorting on that pullback too. And.

Yeah.

And V just refuses to go down.

Dude. Unbelievable.

Unbelievable.

Yeah.

So again, a position to if you were all in some shares or you're picking up some shares or you bought some on the dip or you sold whatever, whatever you're doing, we have a ways to go until earnings. So this one's putting in a lot of work. Robin Hood, it did not come down to fill me, at least on my pyramid. But I am picking up a small position on Robin Hood here, kind of trading into earnings, kind of like Scott said, just like a risk unit worth. And seeing this can kind of travel, travel sideways. But ultimately, watching Robinhood very, very closely, pretty much for the same reason as Carvana, there's no moving averages above it.

Which is the definition of a bull trend.

And from a short float perspective.

Only 7%. So it's nothing crazy. I, I, I like anything above 5.

Like anything above 5. But it's not as insane as Carvana.

Advanced Auto Parts did not come down to 65 for me. So I'm, I'm gonna try to wait for that one a little bit. Wait a couple days or two. I, it still looks like this position is really, really low. This is the weekly chart.

Why are my moving averages not moving? There's the weekly. So you can see, like the 50, 10, and 20 are starting to kind of squeeze a little bit. So I, I still am watching this position.

Because we start, we start cresting above here.

Right, Joe, we're just gonna have to do it again. You know, made money on it a couple times. We're going to try one more time. Monthly chart. All right. You got a ways to go into the 20, which is at 94. 94. And then we'll come over here to Advanced Auto Parts. The short float on this bad boy, 8%.

It's still, it's still a pretty interesting. I mean, Market cap is 4 billion. Sales is 11 billion.

So this it, it still looks like this is undervalued.

For some random reason.

Just keeping, keeping eyes on this one a little bit.

It still seems like it's pretty low.

And then Boeing. So Boeing's gonna be a really interesting one to recover again. Just depends on what type of investor you are.

Right. Obviously it's going to depend on that a little bit because it's going to be low, it's going to be slow. Kind of like Eric said with Apple. This is not, you know, Boeing is not gonna be something that you're going to be in for speed or for acceleration. All right. Stuff. I'm not in a bull trend, but if you are a contrarian investor or you got a stockpile of cash and you're looking at throwing at something that's nice and low. I did get fully filled on my Boeing position. So I'm all the way in as of now.

All the way in. The low of last week was 159 and some change. 159, 70 and my lowest limit was 160.

So it's same same. Pyramid's been hanging out for a bit. So I'm fully in on, on Boeing now and we'll see what that does. I did sell some calls. I didn't get paid a lot, but sold some calls at open on that day way up here for June. And if you're looking at that particular price and you're saying why there? It's because I'd be profitable on the whole pyramid. And it's above the 100 and 200 on the daily. Didn't get paid a lot for it, but since it was over earnings, it was gapping up.

Just kind of had to essentially.

Why not?

Yeah, exactly. Why not When I capture a little bit of extra something something. But again, ultimately if it does get called away, it'd be profitable and I'll probably still be able to buy it back realistically in a little bit anyway.

Okay.

Let'S see. Amazon, what a cool Fade on Amazon the other day. I didn't trade this. This is, this is not. But look at this. Amazing. I mean, from a day trade perspective or swing trade perspective, this is just technical analysis sentiment. That is just so beautiful. So we gapped down into this gap right here. We actually had two gaps. We had the, the ones I'm pointing to the red arrow and then the one I'm pointing to the green arrow. And then you have the hundred, obviously, and then you have the bear candle gapping down. So really, really nice retest gap. Beautiful. Fade right into the 100. If you remember us talking about fades a bunch in February, that was a good one. Didn't day trade it, but again, just to practice. Eric, what strategies could you have implemented? Give me, give me three option strategies you could have implemented on Amazon on that day as it was trading to the 100 to make money as it goes up or sideways or just not down.

Yeah, could have sold puts. That would have been a fantastic data. Sell a bunch of puts at, you know, anything in the 160s or below that gap.

I missed that. I, I have Amazon and I love Amazon. And if I would have seen it bounce off of that on a that day, I would have loaded up, but I wasn't even at my computer, so I was frustrated with that. So that's one strategy.

I don't know.

What was your question?

Three option strategies.

Yep. She got me one. Put sales. Yep.

If you're in on that day.

You.

Could have done.

What is it, a bear call, A bare put spread like that underneath.

You could do a bare put spread. You could, you probably would want to do. I guess it depends on the exact time that you did it to make money. Because if you did like a bare put spread at open and then got out of it as it went down into the support, you could have been profitable in that trade.

But. Yeah, but a bull put spreads what you're thinking of.

Yeah.

Which is still, like you said, sell a put. You're correct on that. Definitely sell a put. But then if you didn't want to use the margin or if you didn't want any more shares of Amazon. Right. Because you love it. You're already in. If you're like, dude, I got all the shares I can handle, I don't want anymore, then you could have bought another put below here, protecting that put sale so that you don't have all that margin tied up.

Right.

Yeah. And what's one more.

Well, on.

If you know it's Amazon, you could have bought a call Pretty cheap that day, right in the 184ish to 188, something like that. And that's, you know, it's going to go back up. So that would have been a, another way to make money on it.

There you go. There you go. Absolutely, my brother. So stock is down. So, so wait a minute. Are you, you're telling me that the best time to buy a call option is when a stock is down?

The best time to sell a call options when it's up? Yep.

Yep. Yes, sir. Scott, what's up, buddy?

Do you just kind of look at the premium or do you look at where the stock's gonna go? Because obviously, like when I buy calls, I try to buy as close to the money as possible if it's cheaper because hitting that target seems to be easier. But obviously, as Eric was saying, if you did like a 184 or up, it's going to be a lot cheaper, but it's more of a risk of hitting, right?

Yeah, absolutely. And again, just keep in mind that the, the stock price doesn't have to hit the actual strike price for you to make money on that position because you can sell the option anytime you want. So if. Right, for right here, as example, when, when Amazon gets to 168, if the 184 option costs whatever, 80 cents.

And.

Then when Amazon goes down, hits it and then closes at 172 and this option goes from 80 cents to a dollar 50. Can you sell it at a dollar 50?

Yes.

Yep. Exactly, brother. And so you're like, all right, cool. Well, I just doubled my money, so I'm just going to get out of the position. And again, it's not always worth paying.

The extra premium for something at 160. If I would have bought a 175 call or something, it would have been a lot more money.

Yeah, well, it would have been a higher return. It would have been more money. It would just been a higher roi. But yeah, absolutely. I know some traders that that's all they do is they just buy out of the money calls and how the money puts. Because the worst, the absolute worst you're ever going to do is you're gonna lose everything.

But if you know that, you're like, okay, cool. The absolute worst that I can lose on a position is everything. And you factor that into the risk and you know that going into the trade.

That can actually work out pretty good in your favor. There's a scene in the Big Short that you might remember, Scott, when The, they're talking about Brownfield Hedge fund and how they made a bunch of money. And they're like, what we did is we bought a lot of bets that people didn't think would happen, Tom. And they didn't happen. But when they did happen, we got paid out a lot of money. And that's what they were doing is they're buying out of the money calls and out of the money puts that are really cheap.

And buying a decent amount of it. They're just saying, I don't think this is ever going to happen. But if it does happen. Right. So for example, I mean literally, let's, let's pull it up. Why not? Eric? I'm gonna have Eric show us and thinkorswim. Eric, can you pull up and show us the 185.

Call option for. Let's just do this Friday, May 3rd.

And what, what it was trading for when Tesla was. Or when Amazon was at 168.

I can.

I gotta find my thinkorswim login info that can.

Okay, yeah, I haven't been in it.

For like a week. Eric.

Or Scott.

Yeah, I can pull it up.

It's always good. It's always just good to see it, you know, just good to interact with it to see how that actually pans out.

You want tesla, right?

Amazon.

Oh, Amazon, sorry.

So, Jeremy, basically if you. If the option, you're buying a call at 75 cents, you buy 10. So the most you can lose is $750 is what you're saying.

That's exactly right.

So, yeah, it's a known thing. If you're good with that. But you can make.

Infinite Unlimited. Unlimited, technically. Right? I mean, not actually, but you can.

Right.

And again, we'll talk about this today. I mean, we have plenty of time to. Why not? But there's. There's so many cool things you can do with this. So. Okay, yeah. Pull up May 3.

And select the 185.

Call option. Yep. Go ahead and copy it.

Right.

Click on it.

Huh? Select copy.

This one.

Yep.

And then go into charts.

I gotta move this thing.

Yep.

I don't know how to move my bar up top. Hold on a second.

All right, sorry.

Always in the way.

Always in the way. Yep. And then.

Hey, paste it. Either that or. Yeah, you can. You can either paste it in here or you can add another chart. You're going to paste it. You paste it right where it says Amazon.

Click on that. How do you paste it?

You're on a PC. Command. Control. Control V.

Press Enter. That One. Yeah. Yep. So this is the option pricing chart for that particular contract. So the change this to a daily time frame, and you can do that by clicking the D right there. Yep. One all the way down.

Perfect. Beautiful. And zoom in just a little bit. All right, awesome. So this is the 185 call. And again, just looking at it, we can visually see, looking at this candlestick, that on Friday we, we could have bought this option for $2.

And then the very next day, the very next day, it was worth five.

So kind of like sue is saying, if, again, if an option is. If you know an option, like, you're like, okay, cool, I'm gonna buy this particular option. The absolute worst I can lose is everything. But that's a known factor, right? And if it's a known factor, then you have the ability to buy really, really inexpensive positions. If you are getting the trend correctly and your timing is almost kind of correct, you can make unbelievable amounts of money not timing the market necessarily, but just buying options on a discount. So I'll give you guys an example. Let's go look at an Nvidia option. Let's go look at a regular May.

Yep. So click on that for us, Scott. Go to Nvidia nvda.

Perfect. And then let's just select regular May.

Third week, right? Yep. Huh? Perfect. And let's go look at a $900 call option.

Okay, so 900. So we'll select it, copy, and then we'll go paste it in the same chart.

Paste that. Now we know that Nvidia had a really big down day the other day, right, guys? And so again, anytime that a stock is bullish and you're like, okay, cool, I want to take a risk or take a stab at something.

If you had bought an Nvidia call option on that big down day, it would have cost you $9 for the regular May 900 call option. And that's when. If you're looking at a stock chart or any other chart, that's when Nvidia had that big down day. So Nvidia was trading at 7. 75.

So if you said yourself when Nvidia, the actual stock was at $775, big down day, I'm pretty sure that, you know, Nvidia is going to go higher over time. So I'm going to take a stab in the dark. And you bought an out of the money call option on that day, you would have spent a thousand dollars a contract. You could have even got it a little bit less. But let's just say $10 for easy numbers. And as of right now, Ms. Sue, how much does that option worth?

I can't see it. 30.

Yeah. 30.

Wow.

So you buy something for 10, sell for 34 days later. It's not horrible.

Yeah.

Anyway, that, that's, that's the answer. Yeah. If you, anytime like the, the most profitable from a return on investment.

Position that you can ever do in your life is by out of the money calls or out of the money puts and that trade start going in that direction.

And if you're doing, if you're buying calls on a down day.

Right. Where you think the market's going to go down or you buy puts on a big up day.

So in case you're a bear, let's go play, let's go play for the bear trades. Go back to the trade options tab, Scott, and let's go look at a, A put.

You just gotta type in Nvidia right there.

Delete. Yep. Nvda. And again, just for giggles, if you had bought. Let's just go look at, scroll down, scroll down.

A 700 put option.

Yep. So right click on that, click Copy and then go back and paste it into the chart tab. Beautiful.

Now if we, as we're looking at this, what we're going to analyze is if we had bought that put option when in, in Nvidia was really, really, really high. So Nvidia had that big, big pop just a couple of weeks ago. As you can see this particular option that we're looking at, you can see this big, big update.

Right.

That's when there was a lot of fear on it. So that was, that's when the, there was a lot of fear on it on, on Nvidia. But if you had bought that option literally anywhere in here, it would have cost around $2.

And then it went to $16.

Which isn't terrible.

From a return on investment standpoint. Yeah. So there will never be an ROI better in life than option trading. The reason that it's scary is because it is such a good return on investment that people forget that it takes a long time to still even build in a good position. And then you'll, they'll, they, the gambling mentality will come out and they'll just start buying too much without the right time because they hit one or two really good winners and they'll try to repeat that over and over and over and over and over and then just get bit. At some point you still have to have your analysis, you still have to have your plan, you still have to have your strategy, you still have to have all that and just kind of really know, understand, and see what you should actually do and when you should actually do it. Because without the right timing, the right strategy is irrelevant.

So what question. Go for it, Rockstar.

Did I. I think I heard something wrong. Did you say you're. You're buying a put down there and then it went up higher? The stock went up higher?

No, stock went down. So the option. The option went up.

Oh, okay. It looks different on my screen. It looks like the stock went up.

On Nvidia.

Yeah.

This was a week ago when I had that big drop with that big, bad, big down day. April 19th.

Yeah, I'm looking at that screen right there. Okay.

Yeah, yeah, yeah. This.

Exactly.

It's okay. Yeah, this, this is the. The option price of that particular put.

Okay.

But on the flip side of that, Eric. So here's the flip side of that, Eric. This is a 700 put. So if you guys are looking at the price chart of Nvidia, on April 19th, that big, big, big drop, Nvidia was at $756.

Which means what? It means that this particular put was far out of the money. Yeah, well, way out of the money. So when the Stock was at 750, could you have also sold that put.

And brought in sixteen hundred dollars per contract? Yeah. And then that put right now is worth a dollar 63.

Yeah.

So the same, you know, same. Same potential strategy because it's just. It's all timing, you know?

Do you buy a put when the stock is nice and high? You sell that put when the stock is nice and low.

Yeah.

Rinse and repeat.

So you're saying basically you bought the put on that giant candle.

Bowl.

Candle.

No, no, this was. If you go back to go. Go to a trading View screen for me really quick.

Just go to. Just go to Trading View. Or open up another chart. Whichever one you want to do.

You want Nvidia?

Yeah, do the. Do this for me. Open up two charts. Just. It's easier that way.

How do you open up two charts?

Point to it with some green arrows on your screen if you can see it.

You see those arrows? No, I see the arrows, but it's.

Pointing to my login information. Oh, three dots.

There should be a box, a square under the word that says on demand.

On your screen.

I'll just show you.

Sorry. All right. So are you able to. You able to see my screen?

Oh, yeah.

Okay.

So what training do you.

So I'll pull over. So right here is how you add a different chart on and think or swim. It's a really, really cool feature. So you can click here and you can have as many chart windows as you want. So you can have 8, 16. You can have all of them. I just. I usually have two. And then you can also click on this and you can detach it as well. So if you have separate monitors, you can have a whole detached window with your trading system set up, which is really, really nice, because what we're looking at is we're looking at Nvidia.

And we're looking at the April, the regular May 700 put. So what I'm going to do is I'm going to put the option chart to the right and the stock chart on the left. So this is the stock chart on the left, and this is the option chart on the right. So what we're looking at is when Nvidia went down here, the option price of that put right misu went up dramatically.

Yep.

Yep.

If you had bought that.

Yeah. If you had bought that option anywhere in here before Nvidia had the big drop, you can see that you could have bought it for, you know, approximately an average of $5.

And then when it actually had the big drop, the option increased tons in value, went all the way up to 18 or 19, which is amazing. So all I'm saying is if you had bought it in the pink arrows and sold on the green arrows, you would have made a bunch of, you know, you would have made a lot of ROI.

That's like a 2x or 3x, you know, return on investment. But I'm also saying if you didn't do that trade and. Or you simply sold the put when the stock was down, you would been able to capture a lot of premium because 700. I'll do it with the blue arrow. The. Again, the. The stock chart is on the left. You'd have sold a $700 put.

Right all the way down there. It's super far out of the money. So when the Stock was at 750, you're still at that point saying, okay, stock is at 750.

I'm gonna sell an option that's $50 away for three weeks of expiration and capture $18 of premium.

And. And how much premium did you need to capture, Eric, to get 1%?

Seven hundred. That's it. Just exactly seven hundred or seven bucks. Precisely. And so that would have been, you know, really good. Exactly. Almost three times more than you needed to. Yeah.

All we're doing here is just Kind of re. Reiterating all the things that we kind of COVID but also being able to just visually see how these option prices move. And so, yeah, to fully, fully answer your question, Scott, anytime that you're trading options, the best returns that you'll ever get from just investment standpoint is when a stock is in a nice uptrend and it has a really, really big down day. Buying out of the money calls.

Because you can spend a certain amount of money and you know, you know your investment risk. Right. The worst case is you lose everything. But if you're like, all right.

Yeah. So you're like, all right, well, I spent a thousand dollars. You're like, okay, cool, I spent a thousand dollars. That's it. But again, if you do it on the right time. So on an upswing, if you buy puts or a downswing if you buy calls, it just increases likelihood of working.

And if it plays out, then you get a big return.

Nice.

Yeah. Anyway, cool stuff.

Cool stuff. Anything else? Any other questions? Any other charts that you all want to look at?

Can you look at. I'm never sure how to say it. Abel Aber Marley album. Alb. That's a lot easier.

Alb.

Abel Merrill.

Hello.

Yeah, finally. So, Joe, what you doing on this one? I know me and Joe's been in this one forever. I actually did pick up four more shares because I had a covered call premium. Like Joe's been selling covered calls on the thing like it's her job. And this.

Exactly. It is her job.

Yeah.

So the support on this thing has been rock solid and it's gapping up. This is probably the perfect time to do another covered call, as crazy as that sounds, because earnings is right around the corner.

And this is not. This is a stock that I haven't been buying, puts on aggressively just because it's like it, you know, going to go higher eventually. I mean, they make plastics and chemicals. I mean.

Yeah.

Where's plastics going to go? And they pay a dividend. And so I know we've been in the trade for a little bit, but. Yeah, really nice gap up this morning. And let's just go look at what a regular May covered call premium would bring in for us.

Alb. Regular May.

Yeah. A 135 pays.

Probably. Probably $135.35. Yeah. Give or take.

Thanks twice much. Yep.

Or you can look at the 140 as well. 135 or 140 covered calls.

Yeah.

Okay.

Nice.

Yep. And then we'll see what happens on earnings. Hopefully we have a good gap up and we eventually get called away on this position. Make a small, small win and then.

That'Ll be that. Maybe.

Yeah. We've been in forever.

Yeah.

For sure.

What else you looking at? Legend.

Mostly just. I've just been in Carvana.

Not Carvana. I bought a put on that or sold a put. Celsius and AI actually.

Haven'T looked to see what it's doing.

AI has been so much fun to trade. This thing is just such a crazy mover. Yeah. So this was a good little wave count retracement that I got here. So some type of wave 3 breakdown. So this little retracement here is pretty high probability. Big, big break of support if I hide everything for a second. The 100 on the weekly is 2362. So big resistance. If we can close back above the 100, that'd be a good sign.

I think. But this is a really, really, really big key level. So if I turn the line on, you can probably see that that support resistance is just really, really strong right there.

Yeah. If we can reclaim 23 and a half, that'd probably be the best news for this position.

I'll probably. I'll probably take a stab on the dark. A little bit of a bear position as well, just in case.

Getting system type of short share trade as it retests that strong support just to have a little bit of bare exposure.

And yeah, and the claims that position we can.

Get out of it.

Lulu. So we closed out of our Lulu spread. Lulu's down a little bit today, which is cool. So keeping a close eye on Lulu. I was watching it for another premium trade and we still might be able to. I mean really, for late May there might be some premium, but we'll just have to kind of keep an eye on it.

I got this Iron Condor on square which is looking perfect so far. That's looking really, really nice.

Interesting to see if that does anything.

Yeah. Cool. Tomorrow in our bonus strategy class, we're going to talk about option collars. So if you love collars and you love options, you don't love option collars.

And. And then we're going to just have an absolute party. Thursday we'll have our another just review session together and then next week we start talking a little bit more about real estate for the month of May. Just so that we are aware of all the different cool things we can do with, with wealth and with money that we make from trading and. Or even if you don't make money from trading, you can still make tons of money in real estate. So you can do both, right? Why not?

So we'll have those open discussions, and then June 247 markets. So we're going to be trading cryptos together. Maybe some futures, maybe some forex. Definitely. Definitely cryptos, though.

For sure.

So, all right. Family, you're amazing. I'll see you later. Thank you. Bye.

Bye.