Friday, June 5, 2020

Fri 05 June 2020 Morning Notes

GLUU had a SONO moment yesterday with massive OTM call activity sending IV surging and the stock surging as well. Comically, it tanked right after a fast money pump. I sold the June $9 puts at approximately 105% IV, a 60% premium to where IV in the line opened that morning. Had a chance to close it out at +30% of max profit but I pressed for more and then the stock dumped on the FM pump.

Closed out my CRWD ratio spread as well with the stock weak all day. I ended up buying back half of the calls I was short for pennies, and was long a 105/110 call spread. The stock started surging after lunch time, so I closed out the call spread for a few more pennies and managed a small profit. Lot to be said about some of these ratio spreads.

Earnings: Yesterday AMC: AVGO, DOCU, GPS, MDB, WORK; COO, DOMO, PD, YEXT,
Today BMO: TIF

Other News: The market is ripping higher this AM on the jobs report, several Covid-affected names are either absolutely ripping, or dropping depending on how they've been affected by Covid.

Follow Through Names to Watch: GLUU, CIEN,




Follow through watch:

Day before Y'day AMC: CLDR; CMTL, ESTC, SMAR, ZUO
Yesterday BMO: CIEN, NAV

 Y'day Other News: ZUO: +20% at 15.07; EBAY: +10% at 51 on guidance; ATSG: +10% AT 23.35 on contract award with AMZN; BA: +5% at 182, after ripping +10% y'day; SMAR: -19% at 47.75; CLDR: -11% at 11.06; SCHW and AMTD both popping after DOJ clears antitrust investigation into their proposed merger;

2 days ago AMC: AMBA, CRWD, ZM; HQY
2 days ago BMO: AEO, CPB, GOOS; DKS; BZUN

2 Day Old News: CRWD: +9% at 101;  AEO: +9% at 11.25;  CAKE: +8% at 22.70 on guidance; MCHP: +6% at 102.5 on guidance; HQY: -7% at 58.10; MCHP pops on guidance; TIF dropped toward EOD on rumor of LVMH deal not going through; During mkt hours, PPC and TSN both dropped on report of PPC exec being indicted for price fixing.

TT Track of the Day: Let's head off into the weekend with some Mozart, surprisingly I haven't featured a single piece by the dude yet

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