Wednesday, April 8, 2020

Wed 08 Apr 2020 Morning Notes

If I thought I had no time for prep yesterday, then today I *really* had no time.. and I have to try and watch the kids due to a time commitment on the wife's part. Kinda rough!

Sold some far OTM weekly puts on IQ yesterday into MuddyWaters fraud tweet. The $2s were going for 1700% IV and I sold until the bid was squashed, then sold the $5s from .23 down to .15 with IV north of 800%. The prices I sold the 2s for was absurd, thanks to whoever was bidding them up, just wish their bid size was larger! Wouldn't be surprised if the stock is fraudulent, I just don't think it'll blow up by weekly opex.

Earnings: Yesterday AMC
Today BMO

Other News: IQ responds to fraud report; EHTH is called out by MuddyWaters as a short;

Follow Through Names to Watch: LK, IQ

APT: +14% at 14 on sales data;
PINS: +12% on site usage update:
FDX: +4% on AMZN shipping news;
UPS: +3% on AMZN shipping news;

EHTH: -17% at 96 on MW short;
IQ: -7% at 16.13 on short rebuttal;
BIDU: -3% on IQ;


Follow through watch:

Day before Y'day AMC: JPM
Yesterday BMO: GBX

Y'day Other News: JPM earnings accidentally leaked on the wires yesterday; cruiselines all ripping this morning; LK is halted;

2 days ago AMC
2 days ago BMO: SMPL

2 Day Old News: IMMU: +150% at 22.50 on drug news; W: +35% at 68 on business update; ZM: -10% at 114 on security issues;

TT Track of the Day: The Andrews Sisters - nice work if you can get it, probably talking about options trading

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