Week 23: June 7 Investment Moves

Week 23: June 7 Investment Moves

• Current US market condition
• Today June 7 Options Trades.
• RIOT Before/After Trade explained.
• GameStop - Roaring Kitty Live?

Current US market condition

Here is what the market looks like right now @ 11 am (EST):

The markets have been mostly green the last few weeks.

Today June 7 Options Trades.

Here are my trades so far at 11:00 am (EST)

Summary:

• Rolled RIOT Covered call for $10 each.
• Rolled RIOT Cash Secured Put for $7 each.

RIOT Before/After Trade explained.

To understand the RIOT option trade, let's look at the position before the trade was done:

Now this is the after position:

My options both expired today. The stock was between my two-strike price of $9.50 (Put) and $10.50 (Call). I closed the JUNE 7 position since there is only one day left. I opened the JUNE 14 position and adjusted the RANGE to be $9 (PUT) and $11.50 (Call). Next week, I just need RIOT to stay between the two strike prices and I will make money on this trade.

GameStop - Roaring Kitty Live?

First of all, I'm not a fan of meme stock investing or Degen investment moves. However, this week's big news was around GAMESTOP.

https://www.youtube.com/@RoaringKitty

You can see that Roaring Kitty can impact the stock/option price.

He disclosed that he had a large option position and that moved the price past $60. On Friday (June 7) at noon (EST), he will be on YouTube Live. Since I don't care about GME, I don't care if the stock pops or drops. I move interested in watching if he can influence the market with what he says.

Do we need an influencer like him in Bitcoin/Ether? Or is that Michael Saylor or Cathie Wood Job?