Chapters
00:00 Intro
01:00 Nick: Energy Is a Non-Trade
03:05 GP: Why the Short Side Pays
04:37 GP: OIH Over XLE
06:12 GP: Friday's 0DTE Noise
07:15 Ben: Puts Off the Open
07:45 GP: Cheap Protection
09:50 Tesla and Netflix Earnings
12:58 Ben: No FOMO Into Earnings
16:05 Ben: The Art of Execution
18:08 GP: Rivian's Volume
19:11 Ben: Coinbase in the 90s
20:43 GP: Coinbase's Round Trip
22:48 Nick: Trading Coinbase, Marathon and Riot
23:50 Ben: SoFi Trading Position
26:58 Ben: Selling SoFi Calls
27:58 GP: SoFi's Resistance Zone
29:30 GP: Don't Sell at Break-Even
32:08 Nick: Let Concentration Happen Naturally
36:48 Ben: Selling Is the Hard Part
38:20 Nick: Sell Half and Raise the Stop
38:51 GP: Risk-Sized Positions and Four Rungs
41:55 GP: The Tesla 230 Calls
44:27 Ben: Short-Dated Trades
47:01 GP: Bucket Your Stocks
48:36 GP: First Solar's Personality
52:10 GP: Starting a Disney Position
55:14 Nick: Not My Style
56:48 Ben: Unloved Laggards
57:51 Likes and Dislikes
59:23 GP: Verizon in Five Rungs
59:54 Nick: Cloudflare and Monday.com
1:01:27 Ben: Roblox and Asana
1:03:00 GP: Roblox's Seller
1:05:03 Wrap-Up
Market Hours #76 went out live on Monday night, July 17, with Ben, Nick and GP. Ahead of Tesla and Netflix earnings, the hosts piled on the energy trade again, and GP made the case for cheap put protection. Prompted by GP's book recommendation, they talked about the art of execution: concentration, trimming winners, sizing options and selling in rungs. They closed with GP's new Disney starter and a round of favorite setups, including Roblox, Asana and Cloudflare.
Nick's setups, levels and trades
Nick said energy is "just a non-trade for me," but he "got short on XOM" when "you could have gotten like three or four dollar puts like a week and a half out for like 10 cents." The 102 puts "paid over a thousand percent already." Ahead of earnings, "I could see these names get absolutely like smoked which wouldn't even look that bad chart wise like Tesla would look fine down to like 230 240." He's been "trading coin Mara and Riot kind of just pretty steadily," and "if I could get a poll in anywhere into the 90s I'd probably buy it." On getting more concentrated, "I have a tendency just to let it kind of happen naturally." "Once price is trending and above like the major moving averages... you just gotta let the stock kind of breathe." On Rivian, "we close here on the week and we put in a three-week tight all right there's another opportunity to add." That way, "the market is dictating what positions you should be concentrated in."
He has the opposite problem from Ben: "I'm much quicker to sell." So "if I want to sell something I'll sell half or you know a good portion of it and I'll just raise my stop." Disney "ain't my style," but "if you could get like a trendline break somewhere I'd... consider biting." He still likes KLAC and LRCX, "but those both broke out today." Among names that haven't gone yet, "I like net mndy... both of those I think look ready." He mentioned Snowflake with "kind of same setup."
Ben's setups, levels and trades
Ben said "I saw a few people out there saying puts," but "15 minutes 30 minutes in everything's still green." Into earnings, "I don't feel the the fomo to have to jump in on a Netflix at 450 you know two days before the earnings call." After reading GP's book recommendation, The Art of Execution, "I've been looking at opportunities to be more concentrated in names." His recent long-term additions are Rivian, Robinhood and Coinbase, and "I'm probably never gonna completely dump out of apple... AMD Amazon Google." On Coinbase, "as long as it holds somewhere anywhere in the 90s" it looks good, and "if you can just dilly dally between 90 and 100 for the next couple weeks and then have a spectacular earnings that would be just fine with me." He added a SoFi trading position, "below eight dollars," and he already "loaded a ton of Sofi... four and five dollar area." "I'm selling a ton of Sofi calls," which he treats "like a dividend." "From that 1350 up here to about 15 I feel is going to be the big resistance zone" for SoFi.
"One of the hardest things to do I find is sell." "Sometimes when it's uncomfortable to buy... that's the right time to buy." His trading-account options are "two to three weeks a month out at most." He thinks "some of these unloved names like a Disney and like a Target" will have their day in the sun. On Roblox, "I like it right here I like it up to at least fifty dollars." "I gotta pound my own book on a sauna Asana I think it's just getting started." He also likes Cloudflare, "a name that I've owned for a very long time."
GP's setups, levels and trades
GP said "short side always pays better because the downside moves are... always more." If he were long energy, "it would be oih," which is "breaking out of the inverse Head and Shoulders" and sitting above its 50-month moving average. He dismissed Friday's selloff as pure 0DTE noise, and Apple closed green. "Premium is pretty cheap on the downsides of protection," and "buying one percent of your your total value inputs for like a month out two months out wouldn't be such a stupid idea." Into earnings, "their reaction is what's going to matter." He thinks Tesla "is probably just gonna stay flat and burn both sides," and he'd "probably be leaning towards Netflix more so than Tesla." On Rivian, "it's a matter of when if not not if." Coinbase is up "120 5 percent in six weeks," after it went from 206 to 49 in 2022. On SoFi, "right around 14 or so... I would be selling actually closer to the money calls." He told a friend holding Palantir, "don't be the guy who sells that... when it gets back to break even."
He sizes options trades by risk: "the position sizes are my risk from the beginning." He usually pulls his capital at 100% and scales out "in four rungs." "I took Tesla August 230 calls when Tesla was sitting at 163," aiming for a move to 315. "You have to have a thesis right." "Bucket your stocks every stock has a different personality." First Solar "has one kind of big candle and then consolidates," and it closed above his "206.60" level. On Disney, "I started an initial position today and also leaps and some short-term calls," with the "weekly close was 85.98" as the key level. "Historically on a lot of these charts the 200 month moving average is a solid place to start buying a position." He likes PATH, Uber and IOT. On Verizon, "I'm gonna buy in five rungs so I bought my first rung at 35 I added in my second rung today at 31 and change." On Roblox, "eventually whoever this annoying seller is or accumulator runs out and then it moves."
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