2 Stocks Getting Primed For Breakout!

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Hey Options Trader,

The market saw flat action today. There was a lot of rotation out of individual names and in to others. Let’s cover the stocks i’m currently building up my position in.

Here’s what we are covering:

1. The overall markets $SPX and Heatmap

2. $AAPL - why I think we are headed higher

3. $NVDA - big dip today, prime opportunity?

4. Poor Man’s Covered Call Tutorial

$SPX and Stock Heat Map

If you look at the heat map below you will see that some sectors of the market faired better than others today. Financials and Healthcare saw quite an uptick, yet the overall market stayed pretty flat.

This is the type of rotation you typically see before another big move upwards. Institutions and retail investors are positioning themselves in the best sectors they believe will outperform going into next year. The two tech darlings, $NVDA and $TSLA saw some selling pressure today.

Overall, I think this week will be another boring one for the markets. Low volume, holidays, and earnings ending. This is a perfect time to collect premium on December options.

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$AAPL - Are we primed for a breakout?

Right now I have two Cash Secured Puts on Apple and 200 shares. I think Apple has been quite a laggard the past couple months, but has been pretty consistent with generating income from covered calls and puts.

I believe if we can test the $237 level again, the stock is primed to breakout above $240. Holidays are coming up and new iPhone’s, iPads, and apple watches will be a great gift for many.

$NVDA - Big Dip Today! Could There Be Further Weakness

I think expectations for Nvidia earnings were way too high last week, even from myself. We are seeing some selling pressure because investors who were expecting a quick move to $155+ did not get it.

When $NVDA loses allure from investors, I believe it’s the best time to buy. Today was a great day to lock in some premium with $130 to $135 Cash Secured Puts for December. Also it would have been a great day to enter a covered strangle (100 shares, $130 CSP, and $155 Covered Call).

We are trading at the lower bollinger band, so if you liked NVDA before earnings, you’ll definitely like it here.

Poor Mans Covered Call Tutorial

Have a great Monday!

-Ryan