Well that was fast, I am easing up on the RBLX trade as two days after entry it has hit my target. As you can see, the high volume node provided a wonderful support zone for this to consolidate on and then rally back up. My position is long July monthly $78 calls, and I am selling half of them at the market open this morning.
In other news:
- This was my only trade the past few days except for DOCS which happened to be the only IPO this week in which I wasn’t preoccupied and able to trade.
- Russell rebalancing is today, check out the Russell website to see which stocks will be added to which index. Some notables: DKNG, MARA, and RIOT. I don’t typically trade these as it’s a very crowded trade, most of the profit opportunities are now exclusive to arbitrage algorithms, and it’s just toss up with all the new traders in the market these days.
- Look at that NKE move off earnings last night! LULU, UA, and FL were some nice sympathy plays off this move. I like to group stocks together like this in my watchlist, just for trading opportunities like these.