[Options] First Class Problems

Sean McLaughlin
July 20, 2023

As many of you know, Steve Strazza and I are touring South East Asia this month. We're hitting the homestretch of our trip, with about a week or so left. We're currently in Hong Kong and this city is beyond description. I don't even know where to begin. It's a cliche to say "you have to see it to believe it." But it is 100% true in this case.

As you can imagine, it's been a bit of a logistical challenge to keep up with the U.S. markets when we are on the other side of the globe. U.S. trading hours in Hong Kong are 9:30 pm to 4:00 am. Lucky for us, many of the positions we have on have been performing well. We've been positioned for a continued bull market and we're definitely being rewarded over the past few weeks.

We're currently positioned long in stocks like $AAPL, $MARA, $KBH, $GXO, $CARR, $VRRM, $ABNB, $IONQ, $DKNG, and more.

I mention this because as I'm looking at candidates for new long trades that we like, I am frustrated that most report earnings over the next 1-2 weeks. And as you know, I don't like positioning when a stock is so close to reporting earnings. I don't like the binary risk.

So, I think this is Mr. Market's way of telling me: "Sean, it's ok to take it easy here."

We've got a number of positions working that have my attention. Sometimes, it's best to just sit on our hands and let things work.

Therefore, I'm going to take my own advice today and do just that.

Strazza and I will put our heads together as we prepare for our next CMT Presentation taking place in Hong Kong tomorrow to see if we can come up with something fresh that will keep us away from earnings season risk.

Until then, if you're positioned like us, maybe just take a moment to congratulate yourself on a job well done.

Is that so bad?

~ @OptionsSean

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