Money Vikings Investing - Week of 4/2/2023
In This Issue: Market Report, Hot Trades - TLT Iron Condor Profit Taking
Indexes and Macro Indicators
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Monday and Tuesday was a slow start to the week, but boy oh boy what a great Wednesday, Thursday, Friday, (and month/quarter end)! With inflation cooling, the market took that as a signal to rally hard. We even had to highlight our favorite monthly REIT & Dividend Stock: Realty Income (O) gapping up. SPY was up 3.25% for the week, and QQQ ascended 3.94%. Not a glass half full guy, but my portfolio is “neutral” so if we keep rallying, I may not be taking full advantage of the face ripping rallies, but i’m OK with that as I’m managing my risk.
Weekly Finviz Heat Map
All Sectors were up, Energy and Consumer Cyclicals rallied over 6%!
Bitcoin holds 28,000 - Is the Crypto Winter Over?
Yield Curve & Rates
Rates continued to fall but the curve still is inverted. This week the 2/10 continued to invert more, meaning the 2 year rose more than the 10 year fell.
The VIX fell quite a bit and settled at 18.70. There is less Fear and more Greed in the market as last week we were at 33 (fear) and this week we’ve moved to 49 (neutral). What could be the next event for a market freakout? Perhaps a May 3rd rate hike?
HotTrades - Closed TLT Iron Condor for Profit!
TLT Iron Condor. To close the 97/100/110/113 5$ wide iron condor for a profit (.89 debit or less):
Sold 1 TLT 04/21 Put 97 @ 0.18
Bought 1 TLT 04/21 Put 100 @ 0.52
Bought 1 TLT 04/21 Call 110 @ 0.44
Sold 1 TLT 04/21 Call 113 @ 0.20
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Other Trades from This Past Week
Closed my COIN Iron Condor for a break even
Closed my Disney Calendar for $11 profit
Rolled down my GLD Iron Condor calls for a $56 credit (195/200 to 187.5/192.5)
Opened a SQ strangle out to 5/19 for 2.64cr (52.5/90)
Adjusted my SPY Iron Condor by rolling up the puts for a $49 credit (362/367 to 383/388).
Added some O Shares last week, glad I did, but wish it was more!
Added some WMT Shares
Bought a long May 19th 5 strike call in SOFI for 1.12 debit
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