The factors driving oil prices higher are many and complex. But the one that is getting a headline this morning is a fragile workaround to the pipeline woes near the Straight of Hormuz. Whether it actually works or not is to be seen but the market likes it enough to ease the recent bull climb in crude. That means it looks like a pause to the profitable trades we were seeing from the related ETFs.

So where do we go next? Here are two places we can look to for the next trades to get us some income in the coming weeks. Take a look.

We still have the calls on the SQQQ inverse NASDAQ ETF and we purposely selected an expiration farther out in Dec to give the downward pressure a chance to find its footing. The CRWD calls we took are up a buck and may extend. It looks like both of these positions are going to hit some headwind today but the bigger moves in our favor still have potential. As always, the choice to grab profit or cut a loss is always there and make the call that fits your trading plan.

The next move I am watching is TSLA. While it is a bit volatile as far as stocks go it also sees a lot of volume which helps create more predictable patterns. In recent months each time it hits a top and then reverses it tends to extend that move down. We are going to watch it and see if there is a put option trade setting up.

Let’s see what it does today and we will update around the close.

Keep learning and trade wisely,

John Boyer

Editor

Market Wealth Daily

P.S.–I just got word that Keith Harwood is walking a small group through his Predictive AI for Dynamic Markets approach live next Tuesday. He hadn’t made this public in the past and had only brought people into the group through personal invitation. It has been generating some mind blowing results and this is a free chance to look under the hood. Here is the link was was able to get early access to. Be sure to check it out.