Weekly Update: November 3, 2016

| November 3, 2016

Weekly Update: November 3, 2016

 

What To Watch

***Important Update*** To give you better market information, we’re changing our weekly update publication schedule. Starting with the very next update, we’ll be publishing on Monday – every other week.

So keep your eyes peeled for the next critical update on November 14!

On to the markets…

The last few days have been UGLY! The Dow and Nasdaq are all down considerably. Why?

The Fed stood still… but Donald Trump keeps moving. As I write this, it looks like the 2016 Presidential election is a virtual coin toss. Regardless of who you support, the national polls are narrowing and we’re within the margin of error.

That means we might have a Trump Presidency… something I think scares the markets.

Why?

The problem with Trump is he’s an unknown. He’s never held political office, so the real impact is a huge unknown. Nobody really knows if he will be good or bad for American business… a lot of people have opinions… but we won’t know for sure… and fear of the unknown is a real risk for the markets.

Expect some volatility in the next few weeks!

Let’s take a look at our positions.

 

Portfolio Recap

Position #1: JPMorgan Chase (JPM) November 67.5 Calls

Price Paid: $1.20

Time Until Expiration: 15 days

JPM got hit hard in the last week. We hit the first conservative exit point… conservative traders should be out.

 

Position #2: Oracle (ORCL) November 38 Calls

Price Paid: $0.70

Time Until Expiration: 15 days

ORCL, has been trading flat for the last week. Watch $39, which is our first exit point for profit taking. Peak gains so far are 41%.

 

Position #3: Deer & Co (DE) November 88 Calls

Price Paid: $0.70

Time Until Expiration: 15 days

DE has been marching higher… and is now over $88. Watch $89.50 for the first exit point for profits. Peak gains so far are 73% based on Monday’s price jump higher!

 

Category: OTW Weekly Updates