ORCL and GME Earnings, AAPL iPhone | Stock Market Update

[Music] what's up outliers happy Monday quick market update I got three things on the agenda for today I want to talk a little bit about Oracle earnings because as you could tell it looks really really good they closed today at $139.99 and they're trading at 152 and we'll talk about why that's important the next thing I want to talk about after that is the iPhone and Apple because well you know it's always nice to see us get pitched the same thing over and over again over year and then go buy it for sure so I want to take a look at that and then I want to take a look at GameStop because it has earnings coming up tomorrow so I want to see how we're positioning leading into earnings so what's going on with Oracle and why does this matter well to me I think this is really really important because we can see that it's reporting really really well we'll go through some of those metrics in just a minute but essentially for expectations this is the funny part about markets it was expected at a doll and a nickel and it came in at a139 so that's a really big EPS beat as we've seen with a lot of other tech companies but the market is rewarding them and a lot of what they're rewarding them for again as per usual are actually the way that we're forecasting out into the future and the potential growth opportunities for Oracle which look really really robust so I absolutely recommend taking a look we can take a look through the earning release a little bit later during the YouTube live session if we want but I took a cursory overview and I mean they're they're overall performing really really strong so they are opening this here that I think is really interesting that there's going to be a new partnership that they're launching with Google they really are seemingly being well received here so what this all means in my opinion is it's kind of a breath of fresh air especially after the last week that we had in the markets we saw Tech get a little bit of a bump today but not much we saw the S&P make a little bit better of a rally but still not much and same thing with small caps hanging near the lows here all up on the day but not massively vix came down closing at 1945 so the market is still in my opinion at a very tenuous phase we can see this standard deviation Channel as days drop off the back here and new days are added you can see that the the slope of this is actually gone from this about flat almost on a 3 month so what that tells us is that the near-term price action has been not great so if we don't start seeing spy rotating up and out from here it starts to look more and more like consolidation sideways action until there's some sort of big Catalyst and Tech just looks down from here even on this little tiny update day it was really well bought there was really strong buy volume but it's just not that significant just yet so I feel like the market is at a kind of important inflection point but seeing this come through from Oracle I think is kind of a good sign because we're seeing a company that reported really well for earnings and so far the market likes it which is solid next thing we have is Apple so if we take a look and it looks kind of the same how cool look at that got uh three little cameras how many does mine have I think I have the 15 yeah looks about the same it does have a really cool function button apparently that's supposed to be a big deal I'm not going to pretend to be some sort of expert on all the Nuance differences between these I really spend very little time I actually have a buddy that's really interested in them so this is not like a tech gadget review going through the differences and stuff but yeah here's some of the differences for you the reason why I bring that up is just because apple is always at part of the conversation and we can see that it didn't move a lot and again this isn't necessarily a big shock to me feels like the market is kind of used to this annual renewal of things and unless it's a really really big upgrade it doesn't always lead to this big giant movement that's kind of what I see here now let's run over to GameStop and GameStop is starting to catch a bid here so we can see that it hit this kind of term low the low of this day was 1988 in here actually I guess I can delete this old one that's a little little aged as it were we can update it and it's been rallying up up since and right now it's at 2425 which again for GameStop that move might not seem huge but if you think about it that's or essentially like a five-point move a little less four-point move it's that's not insignificant for a product that's priced as Gamestop is so for the people that are out there trading movement there's some movement here it's just not what we're kind of hoping to see which is obviously to the moon now it does have earnings coming up which I feel is important to talk about so if we take a look at what we saw today in total net premium it was 1.3 million so what that tells me is obviously we have people that are coming in to buy obviously and if you look at the put volume call volume it's kind of light right so put volume was 52 call volume was 168 there's not a lot in here that necessarily jumped out at me so if we take a look now inside the trade tab we can see current open interest we have to update this so you can see current open interest is 596k versus 279 little bit light and if we take a look at open interest specifically for this series it's also very light it does have call skew heavy so I'm seeing 105,000 calls versus 31,000 puts that's that's a big ratio between those and normally when you're going into earnings a lot of people are actually hedging the downside because you're kind of you know holding the stock fearful of a gap down so you buy some puts that's super normal and I I just I don't see a massive concentration in here yet but again we can see that there were way more calls traded today except it's a really even split between the bid the offer and then between the market which we can't tell necessarily if those are bought or sold so looking through here there's nothing that's I don't know like really jumping out at me the same things you'll always see beginning of the day busier than end of day or beginning of the day and end of day busier than middle of the day typically that's kind of common but let's take a quick look at any large trades that came through I didn't see a whole lot that stuck out to me yeah it's typically for stuff like this I have a bunch of scans that I typically run and there was nothing that popped today like last week I'll even look between no side meaning things that are in the mid so to see if there's any like big big uh premium trades that rolled through and I just didn't see a lot of those so far as I could tell right now it looks like pretty quiet positioning leading into earnings we can see some put transactions coming in at the ask so people are buying some puts but it's still not much right 491 it's it's insignificant at best so something to keep an eyeball on I'm excited for earnings I'm really really really curious to see one if we're going to come across any interesting information that people tell me that is not coming so I'm not really expecting it but I am still hopeful that maybe GameStop will release a little bit of a outline or game plan on how we're thinking about the capital that's on hand because obviously I'm very interested in that and then the other thing I'm interested in is if we pop in here for earnings we can see that it's had decent earnings and what I mean by that is just in terms of Q2 if I look back over the past q2's it's obviously had some some down ticks but it's nothing that's like catastrophic Q2 and 22 actually rallied up so I don't think Q2 is necessarily like some sort of really bad quarter from what I can see here but it does look like there's an expansion in volatility leading into this earnings release which is kind of interesting um we won't really know what this will look like until the market gets closer to the close tomorrow but it looks like an interesting earnings play I'm definitely eyeballing it from an options trading perspective to look at it for earnings specifically just a little bit harder to structure than I typically like to in something like this which we can spend some time talking about during the live stream so exciting to see as always if there's any questions anything you want to take a look at let me know the entire live stream schedule is now out you can see it on the YouTube channel um we got stuff most days at 5:00 p.m. Pacific time so come hang out be an outlier I'll see you guys later