| |  | | Thursday, November 11, 2021 | This Is How You Get Burned on Earnings
By Tom Gentile | Good morning, Power Profit Traders!
It's been a bumpy few days for the stock market, after our recent run to record highs.
The Dow Jones Industrial Average (DJIA), S&P 500 Index (SPX), and Nasdaq Composite (IXIC) all sold off on Wednesday, as traders digested some staggering inflation data.
I'll get to that in just a minute, but when stocks are swinging wildly like this, it's more important than ever to catch Team Tom LIVE at the open at 9:30 a.m. ET right here.
It's also more important than ever to not have all your eggs in one basket, as we discussed earlier this week.
I mean, while several buy & hold stock traders might've taken it on the chin Wednesday, look at just some of the gains made in the crypto world, per data from Coinbase:
Nov. 10, 2021 data - courtesy of Coinbase
You see, there's always money to be made SOMEWHERE -- IF you know where to look.
Unfortunately for one group of option traders, though, they could also be facing some heartache after getting burned on earnings...
Which is a lesson we'll review right now.
Click here to continue reading today's Power Profit Trades newsletter.
Tom Gentile
America's #1 Pattern Trader
| Tom's Toolbox | Tom's Toolbox section copy (new template only):
Today's Watchlist is based on the Morning Report's Unusually High Put Volume tool. This data is updated after the closing bell each session, pulling specific stock options that generated - you guessed it! - bigger-than-usual put volume that day.
The Option column tells you which specific contract generated notable attention. One can interpret the code in that column as: Expiration Date (YYMMDD) - Type of Option ("P" for put/"C" for call) - Strike Price. Therefore, a code that reads 211217P46 would tell you the most popular contract that day was the $46-strike put option expiring Dec. 17, 2021.
The Morning Report tools from the Tom Gentile Suite app are free to Power Profit Traders - click here for instructions on how to use and download.
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