Before we start, I'm adding this position to Power Plays Options:

• Long ACHR July 18 $11 Calls

These calls look good in the $0.34 to $0.40 area. (or lower)

Our current ACHR calls should expire worthless today, but I still think ACHR has upside so I'm reloading.

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The market has been acting very well and I'm glad we've participated with names like Apple (AAPL), Amazon (AMZN), and Alphabet (GOOGL).

Remember, our policy is to hunt for setups... not to predict doomsday scenarios.

It's hard to read too much into today's action because it's a short day into the July 4 holiday, but for now, the market is reacting well to the jobs report.

The economy remains "good enough" to keep recession fears away.

But, rate cuts may be less likely, especially since the market refuses to back down.

Since we kicked off a new quarter, I'll list out some things I'm looking for.

First, I want SPX to hold the 6177 area. That's your line of the sand so put it on your radar.

I also want to see XBI and IWM resume their uptrends, which would support the case for a risk-on environment.

The third week of July will also be important.

It's common for the market to rally for the first two weeks of July before digestion or a dip.

And then a 4-6% Q4 SPX rally would be likely,

For now, we'll take things day by day, looking for new opportunities.

Now let’s talk about our current names:

IBIT 7/11 $62 Calls: I added these calls Monday because I've been expecting a rally around the July 4 holiday. So far, so good.

AMZN 7/11 $220 Calls: this position has been great so far, and we are down to 1/3. I'd like to reload another AMZN calls position on a pullback.

TSLA 7/11 $360 Calls: TSLA got a lift on its delivery numbers, but this position is deep underwater and likely to be a zero.

GOOGL 7/11 $170 Calls: these calls have been some of our best performers since we started Power Plays Options, and we are down to 1/3.

NBIS 7/11 $55 Calls: this position started off with a decent gain but it's come in and we're down for now.

ACHR 7/3 $11 Calls: the aerial stocks have not acted as well as I'd have expected during the rally, and these calls go in the loss column on today's expiration.

Have a good weekend!

-Scott