For all the hand-wringing and pearl-clutching over Nvidia, now that the world has had the night to digest their earnings data, the result is…………nothing. Honestly, nothing. It’s like you threw ten 2-liter soft drink bottles in the air and they all landed perfectly, standing up straight. You know the big winners here? Options SELLERS! And the losers? Any of those BUYERS (irrespective of bullish/bearish) who thought the stock was going to move in a big way. It’s honestly an incredible result.
I’m composing this post 90 minutes before the opening bell, and in traditional Thanksgiving week fashion, all the equity futures are green. The only drop, and it’s a big one, is crude oil, which is off by a full 3%. This makes me happy, since SLB and COP are my two biggest positions.
I want to continue to assert that the /ZB is key, and once it reaches this horizontal, we should be done with this nonsense.
As it is now, I’m placidly hanging on to my ten 2024 options positions (expiring February through June). I suspect it’s going to be a quiet day.
