Traders eyeing PM earnings near all-time high
A trader discusses their position on Philip Morris International (PM) ahead of earnings, having made $7,000 since April through wheel strategy. They hold four covered calls at the $185 strike for July 24, expecting a potential pump on good earnings followed by a drop.
Why it matters: If called away, they plan to sell monthly puts at the $190 strike, citing PM's stability and solid dividend of $1.40 per share.
WSB user bets SPY hitting ATH by end of month against posting butt cheeks
A WSB poster is betting that if SPY doesn't reach a new all-time high by end of month, they will post their butt cheeks publicly. If SPY does hit ATH, they'll fly the top commenter to their city for a $1,000 dinner.
Why it matters: The post also calls to 'bring BSTS back,' referencing a ticker or meme that the community appears to recognize.
The Most Brutal High Beta Momentum Sell-Off Ever Recorded?
The market is experiencing what the author claims is the worst high beta momentum stock sell-off in history, surpassing the Great Financial Crisis, tariff tantrum, COVID crash, and dot-com bubble. The sell-off began at the end of June and has persisted with relentless pressure across high beta and momentum stocks, with no single clear fundamental catalyst explaining its magnitude.
Why it matters: Contributing factors include the failed Iran deal, potential rate hikes, ongoing Iran conflict, and historically weak equity performance during presidential midterm cycles, though none alone account for the severity of the move.