The SPY remains in a strong uptrend over the 8 day but you’re seeing some weakness into OPEX today on alot of the names that have run hard recently. Overall I don’t think today is anything significant just some normal options expiry games in a lot of names. Earnings has begun but next week is when we finally start to see some tech names reporting with Tesla getting things going in the megacap space. We are just in a slow meltup right now until something in this trend changes there isn’t much to say other than you just want to be long.

Let’s talk about AXP this weekend’s best idea, I see its down 3% on earnings. To me, when you’re placing a leap trade like the one I suggested out in 2027, earnings don’t really matter because you’re going to ride through a few of them along the way. The important thing is you place the trade for a credit and just let it play out. This trade below would not be at risk until AXP is 230, even today it sits at 306, so who cares? Just focus on putting every trade on for a credit, and don’t worry about the day to day stuff. I’m fairly certain AXP will remain over 230 by expiry and this trade will profit.

Think back when I took AMZN leaps 2 years ago, the trade was painful for a long time, but it ended in a profit of almost 200% when the trade was over and that’s just the reality of how leaps work, they’re slow, they’re erratic, but if the trade if for a credit, you don’t have much to worry about in the near term. I don’t see enough of a fundamental disruption to American Express in the next 18 months to cause the short puts issues. That’s the most important thing you can ever take from me is the life hack of taking on some risk and putting on every trade for a credit. Once you do that your vision becomes clearer because you stop panicking on every small dip about your calls getting hit hard.

Updates To The Database

As I said yesterday I’m slowly implementing some changes to the database. I know some of you as I said did not want charts in there and wanted the symbol column to return so we’ve found a happy middle ground. Also going forward, my email inbox is just full everyday with all the notifications and emails from here, it is alot easier if you all could send me messages within substack so when I check my inbox there everything is in one place because for some reason alot of your emails end up in the junk folder in my email and I honestly rarely check that.

• Show Chart toggle now remembers your preference. If you had it on/off, it will stay like that without you needing to click it on/off everytime

• The symbol column will now show up automatically if the chart is toggled off. This is because some users look at ALL the trades in the option flow and not just one ticker.

• Added 4 date field pickers. So you can choose ranges for trade date or expiry date

Still working on implementing the data we discussed yesterday showing success rates of the put sales across all names. Longer term I’m hoping to implement some very cool AI capabilities to help you build trades off my database and parameters of your choosing. So I promise I’m working on some things but it needs to be perfect before it can be rolled out.

My Open Book

Trades I Added Today