Commodities Wrap-Up – 2019.05.24

The grains continued to fly higher going into summer. Wheat and corn were on fire. NatGas took a pause with the energy sector issues.

Equities Wrap-Up

No surprise that Utility stocks gained, with the flight to safety mindset over the last couple weeks.

Commodities Wrap-Up – 2019.05.17

Interesting week. Nat Gas held its own but didn’t pop too much. Seems good for those who sold premium on the downside.

Activision Buy

I used to keep an eye on this one because my boys are in their teens and I see how they like to play video games. However, Fortnite had a huge effect on this stock and its competitors because of their free model.

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The Big Sell-Off Today

This is hard to believe. The Traders and I were just talking about the probability/possibility of a selloff this morning over coffee. I made the case that this isn’t a bubble. (I still don’t think it’s a bubble). Then we started the day and the market fell like a rock.

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Trade 153 – Credit Spread on REMX by Rob Miller

Call me crazy, but I’m upping my bet on disruption in the Rare Earth Elements market. Looking for a big jump as soon as China hints at restrictions. I placed 10x this trade, which will return at least $1000 profit if REMX jumps to $15 in the short term or $16 at expiration. REMX was over 16 just a few months ago with a big reaction when China hinted at disrupting the flow of rare earth elements.

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Trade 150 – Iron Condor on /GCZ9 by Rob Miller

The IV rank is at 91% on gold right now on the heels of the last HUGE move. Looking to capture some premium before that falls. Overall, I’m expecting trade negotiations to remain uncertain over the next few weeks together with renewed focus on the bond yield curve inversion. Will close this position at 25% max profit or within the next 3 weeks. This one could get more volatile again as the next potential Fed rate adjustment nears, so I will exit this position well before expiration.

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Trade 151 – Ratio Spread on /SIU9 by Rob Miller

Silver had a big spike recently and I expect it to remain below it’s peak for the next few weeks. Break even at expiration is at $18 strike price with a max premium profit of $1,540 if /SI closes at $17.75 at expiration. Expect to hold this until expiration for a 15% return on capital (6% per week).

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