1/21/2024 - Market Monday

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Hi readers! This is a HUGE update for both the blog and on my options trading positions! Here is the update:

I will be starting a different upload schedule.

Every Monday, I will be uploading a Market Analysis, or Market Monday! Every Monday, I will be looking at the charts for the stocks on which I have options positions on, and I will be using technical analysis to guess/predict where the stock will go in the next week. I will also do some research on the stocks to incorporate some fundamental analysis into my predictions.

Every Thursday, I will be uploading a TradeTalk post, or TradeTalk Thursday! Every Thursday, I will be uploading a post talking about what I did in my options positions in the past week, and what I plan to do on Friday. This will include adjustments I made, new positions I made, positions that I closed, and explanations and my reasoning behind each move.

Every Saturday/Sunday, I will be uploading a Strategy post, or Strategy Saturday/Sunday! Every weekend, I will upload a post about my strategies, and/or some knowledge on options trading and trading in general! This is for the readers who do not have the nitty-gritty technical expertise, and in these posts I will be explaining my trading strategies in terms so non-traders can understand them. I will also be explaining topics in trading, such as "what are options?", etc. so non-trading readers can learn more about trading!


Anyways, here is the "Market Monday" post!

I have made some trades before this post, specifically a long straddle on QQQ and a time spread on AMD. The AMD time spread was made ATM at a strike price of $160, and the QQQ straddle was purchased ATM at a strike price of $406. Both spreads were purchased on Wednesday, January 17. Pictures of the spreads being purchased will be shown below this post.

On the 18th, I adjusted the QQQ straddle, by selling the 406 puts and shorting the 410 puts. I did this because I had a strong feeling that QQQ would go up. This was all in the Feb 09 expiration cycle.

Here is my market analysis:

For AMD, I predict that the price of the stock will stay at where it is right now for a little bit, then shoot up. This is because AMD is on a current uptrend, and it is currently at its previous high. If AMD rejects this price and goes back down, it will go back and forth between its previous high and the new low for a bit before breaking that consolidation and shooting back up

For QQQ, I think that it will break it's previous high, as when it hit its previous high, it came back down but started curving back up. It is currently around its previous high point, and either it can shoot up again or go back down and consolidate for a bit before shooting back up. 





That is it for today's Market Monday post, thank you for reading! See you in the next update!




Screenshots of AMD and QQQ positions:




QQQ put adjustment screenshots:











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