Trade Findings and Adjustments 08-01-2024
Keve Bybee – keve@hurleyinvestments.com
What are we up to?
– NVDA had puts on and we added long calls seeing NVDA come
close to over sold on the idea that we could catch a quick bounce
back up to the 50 day moving average
– We were correct and booked a nice little profit on long calls AND
put protection.
– PUTS on NVDA are expensive, so it was nice to get a little more to
add to the profits from the puts
– NVDA couldn’t get above the 50 dma this morning so 114 puts
went back on AND we added 125 strike short calls to help pay for
puts and make a little more on the way down
– Awesome profits on put protection shown on the chart below for
one account (some thing done in all other accounts with these
stocks).
– Protection back on this morning as NVDA, MU, and BAC couldn’t
hold gains as market started to turn negative.
– 106 MU puts back on to see it test the 200 dma
– BAC got 40 strike puts on as it broke 50 dmaWhat happened to our market?
– Recession fears?
– Manufacturing numbers coming out showing manufacturing is
slowing significantly
– Slowing economy
– We’ve talked about how bad news is good news where slowing
economic numbers mean we are likely to get rate cuts.
– Now that we’ve had the market run for 9 months or so and close to
rate cuts, the market is starting to look at bad news AS bad news
– The hope is that the fed wasn’t too late in cutting rates.
