What a curious position we find ourselves in at the end of this week. The general sentiment has been mostly negative this week, but the prospect of maybe perhaps possibly the trade war, which is already happening, might not happen? It has been proving tricky to recalibrate with the spectre of tariffs over the economy.
Of particular interest was the objectively bad earnings from Tesla (TSLA) coupled with Elon Musk implying that he would be focusing more on Tesla led to the stock rocketing upwards 20%. Obviously the business fundamentals are weak with Tesla, but that has never stopped investors before in believing that the creator of the Cybertruck is a very stable genius.
The lurching upwards of the market into the earnings season has been helpful in that I have now cleared my safety buffer to begin trading again. The trading has still be so volatile this week, with continued swings of +/- 10% that I haven't been able to consider much other than lower rick covered calls.
If things hold steady into Monday's pre-market, I may kick out some long puts again but otherwise I'll be watching and waiting for some opportunities with far less zeal than before.
Trades
- AMD 02MAY25 98 C
- AMD 02MAY25 100 C
- DDOG 02MAY25 102 C
- DDOG 02MAY25 104 C
- DDOG 02MAY25 105 C
- SHOP 02MAY25 100 C
- TSLA 02MAY25 247.5 P
- TSLA 02MAY25 247.5 P
Holding
- AMD
- DDOG
- IBKR
- SHOP