BY ANDREW GIOVINAZZI
March 7, 2024
Yo Pit Crazies,
Mark made a bold predicition in November and it came to fruition. He’s doing it again and I think you should hear what he has to say.
Speaking of great performance, Mark also stuffed so many goodies into his video about the MAG 7, you need to see it:
Mark just posted this bad boy to YouTube.
Apple Inc (Ticker: AAPL), Amazon Inc (Ticker: AMZN), Tesla Inc (Ticker: TSLA) and Alphabet Inc (Ticker: GOOGL) are all amazingly down on the year after amazing runs in 2023.
Microsoft Corp (Ticker: MSFT) is off a bit but Nvidia Corp (Ticker: NVDA) and Meta Inc (Ticker: META) are holding up the Invesco QQQ Trust (Ticker: QQQ).
TSLA and GOOGL are suffering from bad news right now.
AAPL is dead money until an AI solution pops up somehow.
Remember those dumb Apple Vision things? Me either.
Invest is about buying good companies cheaply.
How do I do that and not get crushed in the meantime?
Every trade has a perfect condition
Right now options are relatively cheap and some big tech is in freefall.
TSLA was $205 on Friday trading $175 Wednesday.
What I do is buy stock and 1 month puts on a ratio.
The put has -25 deltas so I buy 25 shares of TSLA.
Then I watch things run. It is helping pay the cost on my long term upside call flies.
I still think AI will reignite TSLA but it is just not happening today.
My trade will help me with controlling my entry price.
Mark touched on VIX in his video.
I am running long VIX and long SPY in Weekly Profit Cycles, with both trades just green. My last 7 opens were wins after some solid closing. Check out how to trade a frothy market with me.
To Your Trading Success,
-AG
Andrew Giovinazzi
30-Year Trading Pro
See what's hot at option pit
CAPITOL GAINS: SMR Aug16 7 call closed for a 150% gain
DELTA STRIKE: VLY Mar15 8 puts closed for a 88% gain
PFE May17 26 calls closed for a 66% win
OP MENTORING: SPY Mar22/19 510 put calendars and 520 calls for 6.4% gain
OPTION SHOPPER: ERX Mar28 65 calls closed for a 90% gain