How To Trade MSFT Earnings

Posted by Joe Duffy | Jul 31, 2024 | Joe Duffy's Trading Advantage | 0 |

After the close Tuesday Microsoft released earnings in line with expectations. The stock was down about 9% in after hours trading. I think that is a vast over reaction and Wednesday will see a recovery. I think the stock is a buy. Added to my positions in several optionable stocks on Tuesday. MARA at $19.70. COIN at $225.00. The latter two are both Crypto plays. Options are expensive so I used vertical call spreads. Also added PLTR at $26.20. And MSFT at $417 also a vertical call spread. I closed my PYPL short spread for a 47% loss. The position was up 25% going into earnings, but with the stock up 9% when I was looking for lower, I had to close it out. My other positions at 2Xlong TLT at $92.70. Long CVNA at $127.00. Long CSCO at $47.80.

Wednesday is the FOMC interest rate decision. Then comes Amazon and Apple earnings as well as Carvana, Mara and Coin earnings. In my opinion the market has reached a short term bottoming area.

Thanks,

Joe

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Joe Duffy

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