Booked my gains today on AMD, WMT, and TWTR. I’d like to say I got lucky on AMD ripping +5% today, but it’s been one of the only laggards in the tech space and my patience paid off. If AMD matched how valuations have transitioned over the sector as a whole it would be trading at $75. I still think it’s undervalued right now, but I heard in a clown market doing the opposite of what people think is the right thing to do.
10Y bonds are down 7.5%, VIX continues it’s grind upwards as many stocks reaching new highs day after day. SPY is a few percentage points from all-time-highs and yet VIX is still $30? Inserts 6x Clown Emoji’s Here
In my opinion, something seems afoot with the markets. Volatility rising indicates the market might be pricing in another big red-day. Earnings month coming soon which hold a lot of unknowns and possibly grounding the market with the raw data. Either that or VIX will melt off back down into the low 20s. Doesn’t matter which scenario happens, my calls will either get FKd by the market or by IV crush. Or maybe Swaggy doesn’t know shit and he’s wrong about everything.
When the VIX drops back down to $25 Swaggy will be fishing for new stonks to buy, calls and shares alike, because stonks only go up. Enjoy the next few days and the weekend, I’ll still be here prepping market updates and option flow.