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Why Not To Buy Not Rivian Calls With Two Days to Go?

It's obvious right? If you mess up and the stock opens the wrong way you only have one day for a rebound. Why put yourself in that position? Others might be in the camp of saying why not go for a fifty percent rebound on Thurday's morning opening. The stock sold of on Wednesday on very little volume. A morning pop is possible. The stock has being strong as of late. Here is it's five day chart. Now this, the seventeen series of Calls that expires in two days. They do look cheap after hitting a high of $1.55 on the day. If we look at a 30 day chart we will see that the stock is still in an uptrend. Why not look at the Call options one and two weeks out? Here are the seventeen series of Calls one and two weeks out They would be much safer to play and I will check in on these ones at a later date. So what happened on the Thursday opening? Let's switch gears for a moment and look at how Roku, a much higher priced stock opened and look at how their Call options moved.

What is Triple Witching And Last Week's Action

It happens four times a year and it's going to happen on June 21st. It's a market reset. Do your your own research on what it is. Just stay away from trying to play one and two day options on the 19th or 20th later this week.
Look at how Tesla traded this week.
Tesla was up .53 cents on the week however it was up $14.00 in one day midweek! Now Boeing, it was down $12.97 on the week.
Now look at Caterpillar on the week. There was no news to explain why it was trading like this.
At the very same time Deere decided to rebound. Are wheat prices going up?
Nvidia this week topped the $3 trillion market value level for the first time. This stock keeps going up.
Eli Lilly also keeps going up.
Volatility like this should attract option traders however catching just the right situation is near impossible. If you have the energy watch the Tesla conference call that happened last week. Find it on Youtube. Elon Musk is telling the world that autonomous driving is just around the corner. That would be exciting. What ever happened to the "Summer Doldrums? The markets are not drifting sideways. It's difficult to keep up with all the action and some option traders are now opting to shy away from trading short term options. The triple witching thing and market "reset" thing. This could be a disappointing week for traders holding "near-to-the-money" options. To be continued.

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