TGIF, Power Profit Traders!
I’ve tried to ramp up my focus on providing top-notch trading education lately, because if this week’s volatility has taught us anything, it’s to be careful out there.
Like I said recently — Monday’s sell-off may have been a first for a lot of the new kids on the trading block, perhaps drawn into the markets by the “meme stock” craze… And anyone who has been trading blind and lucky probably had a rude awakening at Monday’s close.
But if you know how to spot and capitalize on RULES-BASED OPPORTUNITIES — which is a lot of what I teach — the broad-market conditions shouldn’t impact your bottom line.
That’s why I strongly encourage you to keep coming to my LIVE trading sessions, the frequency of which I plan to increase very soon, so keep an eye on your inbox for more on that!
In fact, yesterday I went LIVE for a full hour, diving into everything from the TRIPLE-STACK BUY I just spotted to what I consider a “1-inch Putt” trade.
So if you’re already watching these sessions — thank you, you’re already on the right path to becoming an enriched, educated trader. Please keep coming back and dropping comments like these (wink):
You guys are the best
But aside from the education, traders need an EDGE in this game — which is why today, along with our Power Profit Trades Watchlist
, I’ll walk you through downloading the TG Suite app and how to find the Morning Report
Finding and Using the TG Suite App in 5 Steps
If you’re new to the Tom Gentile universe, a lot of my trades are based on the premium software I’ve developed over my decades in the biz — much of which is available to both my free and subscription-based followers.
But ultimately I feel my job isn’t to spoon-feed you trade ideas to mindlessly enter and exit — I want you to know where to find the data I look at every day, and more importantly, how to read and use it yourself to boost your own trading profits.
So today, I’d like to walk you through my TG Suite app, and how to find the free Morning Report data I feature in the Power Profit Trades Watchlist each morning.
The first step, obviously, is downloading the TG Suite app!
- If you’re an Apple user, you can download here for iOS.
- If you’re an Android user, you can download here for Google Play.
Searching “TG Suite” or “Tom Gentile” in your app store should also bring it up.
is watching this video walk-through
I made for you, starting around the 44-minute marker:
I begin the app tutorial around the 44:15 mark
As I say in the video — if you’ve never used our apps before, you’ll have to sign up, which is Step 3
Now, once you’re in the TG Suite app, you’ll see several options. The first six we reserve for some of our premium software at TomsOptionTools.com, so if you’re on any of those teams with me, you’re probably already familiar with those features.
However, the one at the bottom, the Morning Report, is now open for everyone!
Step 4 is opening the Morning Report.
There you’ll see the tools I use to pull together the Power Profit Trades Watchlist each day:
The data in these tools updates after the close each day, when the dust settles on the trading floor.
Understanding how to utilize these tools, which I plan to teach in this space, should give you a trading edge to start your day.
Whether you’re scanning the Cheap IV list for potential options on sale, the Expensive IV list for rich premiums to sell, or following the money via one of the other tools, knowing how to read these numbers and spot opportunities can give you an advantage at the opening bell.
So go download the TG Suite app now, because Step 5 is Clicking Around & Having Fun!
TSLA Options Active Again
Now, onto today’s Power Profit Trades Watchlist, brought to you by the Highest Option Volume list from the Morning Report.
Thursday was quite a day for the bulls, with the Dow, S&P, and Nasdaq all gaining at least 1% on the day.
So it may seem strange to see the most active option on our list was a put.
Specifically, Tesla (TSLA) once again topped our list, continuing the theme of active TSLA options this week, this time with the weekly Oct. 1 $700-strike put.
Perhaps the buyers of these out-of-the-money puts are seeing TSLA shares at a resistance point, expecting a steep rollover beneath $700 before the options expire in a week…
On the other hand, they could be TSLA shareholders looking for a bit of options insurance
, buying $700-strike put options to protect their investment and lock in a minimum sale price (the strike), should the stock take a turn for the worse.
By purchasing “protective puts,” the buyers aren’t necessarily wanting their options to move into the money.
Their primary goal is for TSLA stock to chug higher, but if the stock took a nosedive to, say, $650 before the Oct. 1 close, having those puts in their pocket allows them to unload their shares at $700.
That’s all for today, but I’ll be back with another one Monday…
Have a great weekend!
America’s #1 Pattern Trader, Power Profit Trades