Good Afternoon Stock Enthusiasts,
Welcome to the weekend edition of my newsletter where we take a data-based approach to discuss all things stock-market.
The Week Ahead - Economic Calendar
This week’s economic calendar contains important inflation readings on Tuesday and Friday. These inflation readings are critical in determining the Fed’s course of action regarding potential rate cuts.
Monday, February 12
Monthly U.S. federal budget
Tuesday, February 13 ⭐️
CPI
core CPI
Thursday, February 15 ⭐️
Initial Jobless Claims
Empire State Manufacturing survey
Philadelphia Fed Manufacturing survey
Import price index
Retail Sales
Friday, February 16 ⭐️
PPI
core PPI
building permits
housing starts
consumer sentiment
Earnings
Tuesday am
Tuesday pm
MGM
LONG >45
target 48
<45 targets 42
Wednesday am
Short <15
Wednesday pm
Thursday am
Thursday pm
Stocks to Watch
AI 0.00%↑
AI’s options activity from Friday was the definition of a worthy addition to your watchlist. The amount of premium that compiled AI’s call activity outpaced that seen from the put activity by nearly 40x! (39.77x)
Some of the larger money orders from Friday’s session that compiled the $3.5m in call flow are included below.
The daily chart above shows that AI has consolidated above $23 and used the spot to launch itself higher toward $30 over the past few sessions.
AI
LONG >30
Potential Δ support at 25
no longs <25
RIVN 0.00%↑
RIVN stock boasted some impressive options flow during Friday’s trade. Potentially bullish call option orders outpaced that of put options by 10x notional dollar amount.
In addition to the options activity, some technical analysis on RIVN shows us that RIVN is attempting to utilize a previously built volume shelf as support to move higher.
RIVN’s net gamma positioning for the ensuing 4 weeks is unusual and not completely reminiscent of a stock ready to shoot higher just yet.
RIVN
LONG >16
Targets 17.5, 20
NO LONGS <16