Oh wait, not that kind of platinum. We're talking about the metal. The guys on the ASC team are starting to get pretty geeked out about the metals space --- with good reason. Prices. Are. Breaking. Out. Sometimes it's just this simple.
When the world gets back to normal, you have to believe people will be itching to get back on the road and start traveling again. There are a number of industries that will benefit from this, of course.
And one stock from a beaten down sector in 2020 is making new all time highs right now! This is the kind of trade I want to get into.
In lieu of our regular monthly options conference call to kick of February, as promised, here is a recording to the latest Members Only All Star Charts Conference call, hosted by JC Parets.
When semiconductor stocks are making all-time highs, I always pay attention. And when they also appear on the All Star Charts Young Aristocrats scan? Well, pass the gravy. Daddy's ready to eat!
Like many people, we've been geeking on short squeezes lately. There's been so much action in heavily shorted names.
Pity the fools who are shorting stocks that are at or near all-time highs. If they want to try to be Heroes, be my guest. But we're smarter than that. We'll use these hurting shorts as fuel to catapult our trades higher. I recently got into Live Person $LPSN and Rackspace $RXT -- both of which are working. And I'm hungry for more.
And a company with a market cap measured in Trillions (with a capital T), is quietly setting up beautifully with volatility near the lowest levels of the year.
Stocks getting squeezed are all the rage these days, and rightly so. Some of the moves have been epic. The reasons for each squeeze vary from stock to stock, but the price action is hard to ignore.
With that in mind, we've identified some potential short squeezes that also have the benefit of the technicals lining up in our favor. Check out our recent Freshly Squeezed report.
One of the names on the list looks like it's ready to go...
As February gets under way, it’s time to review positions with February options that remain open (haven’t already hit profit targets or been stopped out). This month there isn't much to discuss as most of our February options trades have already been closed out thanks to hitting their profit targets or getting stopped out.
Most trades I put on for All Star Options tend to have a minimum duration of 30 days (short premium plays) and often as long as 6-8 months (for long premium plays). As options approach expiration, greeks like theta and gamma start to become my enemy and whipsaw my P/L. Therefore, as options and spreads get into the expiration month, my best practice is to put each position on notice — it’s time to take action.
At the time of this writing, I've only got 2 remaining positions with Feb options.
In the scoreboard below I denote the date we exited each position:
JC and I conducted a great options webinar last night, attended by well over 500 people. It was a fun opportunity me to lay out some of the core options strategies I employ on a regular basis to make trades in a variety of trading environments. And the questions we received from the audience showed that they were engaged and enthusiastic, which makes it great for everyone.
Options volumes on US exchanges have been exploding in recent years as investors and traders are waking up to the power and flexibility that trading options provides. And our event last night was a reflection on that.
Anyway, at the conclusion of our call, JC teased a trade out of me I had not yet put on but was considering entering.
