The S&P500 Futures and SPY are sharply higher this morning as COVID-19 vaccine progress sparks optimism. This news is also sending shares of lockdown companies, airlines, and cruise ship stocks higher.
We’ll sell some MRNA options this morning, as they trade ITM at the open. The stock is up (+16.20%), after announcing the results of its ongoing early-stage trials. MRNA’s experimental vaccine showed it was safe while boosting immune response in its trial volunteers.
Airlines, Cruise, and lockdown stocks are higher this morning, while SPY trades above the Monday reversal highs. More importantly, price action is above the key 9/21d moving averages. The 50/200d moving averages crossed as well, setting up the longer-term trend, flipping to confirmed bullish.
We’ll sell some of the DIS position (+2.87%) this morning. The 07/24 120C is in the money, with time to seek more profits, so we take 1/2 off.
Bought these shares after hours and selling some pre-market.
- JBLU (+8.37%)
- AAL (+8.56%)
- CCL (+8.91%)
We’ll reassess the markets after 10:00 – 10:15 AM, so be sure to tune into the LIVESTREAM broadcast during market hours, as we navigate the current environment. Watch, listen, and trade from 9:20 AM to 4:15 PM Monday through Friday.
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