Market Slow Down, How Do We Make Money When Markets Are Sideways?

It seems like the only thing going up this week is Bitcoin...

Author

Ryan Hildreth
November 18, 2024

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Hey Options Trader,

It’s been a slow start to the week after seeing a broad market pull back on Friday. There is little to no volatility which is not a good thing for us Options Sellers. Premiums are lower and less action is happening. Here is how I’m playing it…

What we are covering:

  1. Overall Markets And How I’m Playing It

  2. NVDA Earnings Wednesday

VIX, QQQ and Market Direction

We had a slight uptick in fear on Friday, but I knew it would quickly subside which it did today. My thesis is that VIX is still headed for $12 or below in the coming months. This means we are in slow “melt up” environment in the overall markets.

For options sellers, this is a very boring time and premiums are less because there is no fear.

For me, i’m maintaining my long stock positions and a few long call positions on QQQ to participate on the upside. Once my options expire in the next couple weeks, I will shore up that cash for better opportunities on any pullbacks.

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NVDA earnings Wednesday

Nvidia is posting Q3 earnings this Wednesday after the closing bell. I will be covering the results live on Youtube.

As you can see on the chart below, Nvidia is trading right above the lower bollinger band and in the middle of the RSI. If you are bullish on NVDA, I think this is a great time to buy before earnings. You can either do what I did, the covered strangle, which will be in the tutorial below or just sell puts at the 125 or 130 level to be safe.

Im expecting a large move upwards to $160 or on negative earnings a down move to $130 which is not what i’m currently positioned for.

Markets are trending up, we are in a lowering interest rate environment, and a Trump administration means lower restrictions on business. This is a trend I will not trade against.

My NVDA Wheel Tutorial

I’ll see you Wednesday!

-Ryan