June 24, 2025
Position Update – UBER and HOOD
Uber (UBER) stock is trading higher by 7% today on negative Tesla robotaxi headlines. And while these positive and negative headlines continue to swing UBER stock seemingly every other day, of much greater interest to me is the option activity today in UBER, which is RED hot, as calls are outpacing puts on a ratio of 5:1. Here is a small sample of those bullish trades:
Buyer of 21,00 Uber (UBER) August 100 Calls for $2.10 – Stock at 89.5
Buyer of 6,000 Uber (UBER) July 92 Calls for $2 – Stock at 89
Buyer of 6,000 Uber (UBER) August 95 Calls for $3.30 – Stock at 89.5
UBER stock is at its highest level since mid-May today (91), and I’m very encouraged by this stock strength and, more importantly, option activity. And while I think the odds favor the stock moving higher, there have been plenty of head fakes in UBER stock since we got involved.
And finally, I wanted to note that HOOD is making yet another new high today at 81, and option activity remains very strong, looking for more highs to come in the next month, including this trade:
Buyer of 3,500 Robinhood (HOOD) July 95 Calls for $0.90 – Stock at 80
June 23, 2025
Weekly Update
The worries in the Middle East continued to move markets last week, and despite some worrisome moments as well as signs of hope, by week’s end the markets were little changed. The S&P 500 fell 0.2%, the Dow was virtually unchanged and the Nasdaq eked out a small gain.
Stocks on Watch and What Traders are Saying
The list of stocks I have interest in buying remains mostly the same from the previous week, though I do want to note, none of these stocks (much like the market) have really made or lost much ground in weeks. For example:
ORCL is my lead candidate for a new buy. However, the stock was mostly unchanged/down last week which is fine, but is hardly making it an urgent rush to buy.
CPNG has been stuck near the 28 level for three straight weeks which again is fine, but the stock is hardly running away from me.
PTON has had its ups and downs, but is still stuck between 6 and 7.5.
GE has pulled back from 255 to 240 the last two weeks which gives it potentially a better buy level. However, it seemingly has lost some of its momentum (still looks fine).
TOST virtually hasn’t moved since its big earnings reaction nearly four weeks ago. Again, the stock is doing nothing wrong, but also hasn’t busted out.
SCHW, you can pretty much copy and paste what I wrote about many of the stocks above as the stock has been stuck between 87 and 90 for nearly four weeks.
Essentially, the stocks above, much like the market, has been a bit choppy as of late with many very short-lived breakouts that fail as well as many shallow short dips that get bought.
And while a choppy market isn’t ideal and can be a bit maddening, when stepping back, after such a big market decline and then snapback in April, this is likely perfectly normal action.
Volatility
The Chicago Board of Options Exchange Volatility Index (VIX) closed the week mostly unchanged at 20.5. And as I noted last week in this Volatility section, for now at least this relatively tame level for the VIX is hardly screaming panic of a World War 3 type of scenario in the Middle East (encouraging).
Option Order Flow was fairly mixed this past week as my Options Barometer came in at:
Monday – 5
Tuesday – 5
Wednesday – 5
Friday – 5
Events for the Week to Come
Market-moving macro-economic data releases this week will be very limited with the only “big” number being the release of PCE Prices (inflation data) on Friday. And while the macro-economic data will be quiet, the situation in the Middle East will almost surely continue to move the market hour by hour, day to day as the rumors fly (and so do the bombs).
On the earnings front it will again be a quiet week, outside of Fed-Ex (FDX) on Tuesday, Micron (MU) on Wednesday and Nike (NKE) on Thursday.
Open Positions
CSX (CSX) January 32.5 Calls – CSX fell marginally last week which is totally fine as the stock mostly traded in-line with the market. Option activity remains red-hot in the stock.
Freeport-McMoRan (FCX) November 43 Calls – FCX is starting to be frustrating as the stock hasn’t yet busted out, much like most stocks and the market. That being said, I think the stock looks great.
Grab Holdings (GRAB) January 5 Calls (exp. 2027) – GRAB bounced back some early last week and then gave up that small rally to close the week. Not much more to add as the stock looks good but has perhaps lost some of its momentum.
Starbucks (SBUX) January 110 Calls – SBUX was mostly unchanged last week, much like the market. Not much more to add as this stock has rallied nicely as of late, but we still have a ways to go until the stock gets back to 110 and above.
Robinhood (HOOD) December 50 Calls – As I wrote on Friday, HOOD looks spectacular and option activity remains red-hot including these call buys from that day:
Friday - Buyer of 5,000 Robinhood (HOOD) June 77 Calls (exp. 6/27) for $2.70 – Stock at 77.5
Buyer of 3,500 Robinhood (HOOD) September 80 Call for $10 – Stock at 78
Buyer of 5,000 Robinhood (HOOD) September 85 Calls for $8.30 – Stock at 78
Buyer of 5,000 Robinhood (HOOD) September 90 Calls for $6.70 – Stock at 78.
Uber (UBER) December 90 Calls – UBER was mostly unchanged last week though option activity remains very strong targeting a move higher later this year. Stepping back, the stock has had all types of “bad news” as of late and in reaction it’s mostly held its ground.
S&P 500 ETF (SPY) December 590 Puts – We will continue to hold this hedge against our bullish portfolio as the price of puts is very reasonable given the many market worries.
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