TGIF, Power Profit Traders!
I’ll be doing more LIVE trading than ever soon, so make sure you’re keeping an eye on your inbox and the Money Morning LIVE schedule so you never miss my real-time streaming!
In fact, on Thursday I gave you an entire HOUR of live market commentary, where I discussed everything under the sun — my market outlook, system trading with the TG Suite app, and I even tossed out a few actionable trade ideas.
If you missed it, though, don’t worry — we’ve got your full replay right here:
Watch the video at the timestamps for:
- My short-term expectations for crypto (9:25)
- The SPY support level I’m watching right now (11:06)
- My hot take on bacon futures and inflation (13:10)
- The USO level I need to break (14:25)
- What to watch if you’re long GLD (17:10)
- What a massive stimulus package could mean for the dollar (18:12)
- And I even rapped about options volume (you read that right) (26:25)
And then continue watching for my walk-through of the Morning Report in the TG Suite app, which is where we get our daily Power Profits Trades Watchlist!
I not only showed you exactly how I use these features every day, but we walked through real-time trading ideas on stocks like Beyond Meat (BYND), Cisco Systems (CSCO), and AT&T (T), to name a few.
So check out the video, and stay tuned for even MORE LIVE trading from me and my team next week, starting Monday!
Ford Camped Out on High OI List
Today’s watchlist is courtesy of the Highest Option Open Interest list from the Morning Report.
Open interest is the amount of currently open call or put options at a particular strike. These contracts were either bought or sold to open, and haven’t yet been exercised or closed out.
When we see high open interest, it tells us there is a lot of open activity around that option, so lots of traders are watching — which could make that level important.
I discuss OI at the 35:10 marker
That said,
Ford Motor (F) has been perched at the top of this list for some time now, joined by Apple (AAPL) and AT&T (T).
Specifically, the F $10-strike call options expiring Jan. 21, 2022 — otherwise known as LEAPS, or Long-term Equity AnticiPation Securities — are front and center, with nearly 234,000 contracts outstanding.
Because I’ve been watching this list for so long, I can tell you off the top of my head that those F calls were priced at $10 not too long ago.
As you can see in the Watchlist image above, though, they’re now fetching about $4.35 — not even half that.
Still, even with the recent market sell-off, OI on these calls only dropped by roughly 2,000 contracts since Sept. 17, meaning traders aren’t taking off their positions yet…
This could indicate there are still a lot of believers in Ford, which is trading just above $14 this morning.
Check out the video around the 35-minute marker for a deeper dive on F and OI, and then GO ENJOY YOUR WEEKEND!
I’ll see you Monday on Money Morning LIVE!
Tom Gentile
America’s #1 Pattern Trader, Power Profit Trades
