Week ending 9/1/2024

The weeks are getting less exciting which probably is not a horrible thing, but action and volatility is where the money is made. I am expecting this next short week wont move the VIX much either.

This past week was another in the green although not by much. Most of the week was spent in anticipation of NVDA’s earnings call and July’s PCE report(a measure of consumer spending on goods and services). NVDA beat earnings, but the stock price fell leaving it down about 8%. for the week, so selling our calls before the announcement was a good play. The PCE report was in line with expectations so there was no movement there.

NVDA reported Wednesday that their revenue was again 2 billion above guidance and the stock still fell. Typical, but glad we didn’t play calls on them too. I expect NVDA shares to continue to have a slow growth throughout the next few years, but I feel short term there wont be much here.

Last week our plays were CRWD(2%), LULU(5%), ULTA(7%) calls and BBWI(13%) puts. This wasn't the best week, but BBWI helped. We were somewhat correct about CRWD, but suffered an IV crush. LULU and ULTA were just straight up losers for us though. We wont fret over losses, because we have plenty to look forward to next week. Bounce back szn.

Earnings season is coming to an end, but September is going to be exciting. The expectation of a 25 vs 50 bps rate cut will be the main talk of the month and will be interesting to witness. Small caps are going to be the winner here either way. AAPL has their IPhone 16 launch event in September, which if executed right will give their share price a little boost. The price, the battery life and what they say about AI in this new IPhone will determine a lot for them.

There is not much again this week, but enough to make money.

I have a rather high conviction that DKS is going to plummet after their earnings call. You know… go woke go broke. They are not in line with their customers anymore and are losing sight of what is needed. Their numbers will be bad and they will say something to piss everyone off.

DLTR is going to be interesting to watch, but I don’t think it will be horrible for them. They are far from DG although their share price fell with DG’s. There is room for them to climb here.

I am up in the air with Asana, but it is one of those companies that all the smart nerds use and those typically turn out to be great. I am not sure what they will say tomorrow, but I want in on the actions

Degen Plays: ASAN, DLTR Calls

DKS Puts

I am looking forward to a great September! Don’t forget to forward and that is all for now folks