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Let’s talk about Shopify (SHOP) for a moment, because there’s a point I’d like to make. SHOP announced earnings hours before the market opened, and the stock plunged by about $20. I had no position, but if I had puts, I’d have been briefly thrilled. However, the stock’s low was basically set a few moments after the earnings came out, and it did nothing but climb afterwards. Once it was all done, the stock actually CLIMBED for the day. Any Shopify bears were understandably pissed and/or disappointed.

Instead of this morning, we turn our attention to this afternoon, during which time Super Micro (SMCI) announced. In almost the exact same fashion, the plunge was huge and instant, hacking about 25% off the entire market cap of the stock. Unlike Shopify, I actually DO have a position (August $39 puts) in SMCI, so when I saw the stock collapse, my heart soared.

Now? Not so much. In a matter of minutes, the entire plunge was reversed, and the damned thing is actually up a little right now!

This is why I don’t mess with 0DTE and other short-term stuff. I can’t stand all these spasms and fake outs. My point being………don’t’ count your chickens until they’re in the pudding!

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