In this video, Nick and Mikey give an update on the current state of the market. They discuss how different stocks, options, and futures are performing. They also answer questions from viewers about trading strategies and how to estimate profits from earnings trades.
One important point they make is the significance of waiting for the market to open before making any closing orders, and the importance of avoiding market orders. To explain this, let's take the example of someone who wants to buy shares of Nike. Instead of placing a pre-market order, it's better to wait until it's open for some time to get a sense of the initial price fluctuations.
They also discuss options trades on popular stocks like Tesla, Adobe, Nike, and Target, and provide opinions on how to adjust and manage these trades. They walk through a viewer's profitable Tesla long call and explain how they can leave the trade on while removing a lot of risk.
The hosts also address questions about trading rules, such as the pattern day trading rule, and the best timing for entering and exiting trades. They compare the benefits of different expiration dates, such as 45-day and 60-day expirations, to illustrate how traders can choose the one that suits their preferred time frame.
They talk about the use of CVAR as a tool for measuring risk in trades. They also address the limited availability of options for a new IPO called CABA and share their thoughts on how to approach trading it.
The hosts conclude by mentioning that the market will be closed on Monday and they will return on Tuesday for their morning show.
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