Good Morning!
US inflation surprised to the downside, triggering a risk-on rally as rate-hike expectations decrease.
On the geopolitical front, the rhetoric from the US and Iran is utterly at odds regarding the future state of the Strait of Hormuz, and it looks like we might have bottomed out on energy prices for now, at least until a more solid implementation of the MoU is agreed upon. Crude prices are still low compared with their peaks during the war, giving Trump some breathing room; the worry now shifts to refined products such as gasoline and diesel, which have not seen the same correction.
Data-wise, the calendar is looking very light, with this week's UK GDP expected to reverse its recent decline, US retail sales expected to be softer, and UK inflation expected to tick down next week.
Important Dates
WE CALLED IT
SOFI $18 calls expiring 6/26
+147.06%
HIMS $30 calls expiring 6/18
+59.80%
TSLA $405 calls exp.6/22
+60.61%
SNOW $280 calls exp. 7/17
+135.84%
META $570 calls expiring 7/1
+63.87%
HOOD $105 calls expiring 7/17
+103.39%
HOOD $110 calls expiring 7/17
+174.33%
MSFT $392.5 calls exp. 7/8
+113.59%
NET
+17%
Has been on a heater and +17% over a 1M time frame on anticipation of strong earnings. Trimming 50% here
NVDA — Long
+7.3%
$195 → $209SKHYNIX — Long
+2.5%
1.72M KRW → 1.95 KRW
Still running
SOL — Short
+2.85%
$82.7 → $80.5SOL — Short
+2.5%
$82→ $80ANSEM — Long
+44%
$200M → $283M
WIZARD’S WEEKLY MUSING
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