Jan 2024 Options Strategy

Here’s my Jan 2024 options strategy for some of the following stocks.

• NFLX
  • NFLX Results
  • NFLX FY23Q4 Earnings Release
• MSFT
  • MSFT Results
  • MSFT FY24Q2 Earnings Release
• META
  • META Results
• NVDA
  • NVDA Results
• TSLA
• GOOG
• AAPL
• AMZN

This is what me and my options group target for our options strategy. I’m debating my strategy because there have been several times when there has been a DROP after great earnings. It’s happened to me several times so I may take up a call and put spread. The main goal might be to buy a short-term put to gain during the initial drop. Then buy a longer-term call that expires in approximately 3 months to gain as it climbs after any dip. These are the main 4 from the list I will look at.

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NFLX

Netflix will have its earnings call AMC 23 Jan 24. It has beat expectations in the last 3 earning calls. GDP has also shown unexpectedly high growth with the most recent 2023Q3 being a 4.9% increase! I will lean into NFLX and probably buy 1 call with an expiration of 2-3 months, deep in the money. They had about a $50 jump on their last earnings call on a 7% unexpected increase in their expected earnings. Finally, Barron’s reported that Netflix has increased their subscriber base as of Jan 2024 to 23 million from 15 million in Nov 2023. I think they can do it again!

UPDATE: My bet was correct and made money. See the results here.

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MSFT

I like Microsoft. I think it reacts well to earnings calls. Its earnings call will be AMC 30 Jan 24. Its last earnings call on 24 Oct 23 did have a big jump, then corrected, then gradually climbed. MSFT has also surprised expectations in the last 4 earnings calls. I am expecting a good GDP release on 25 Jan 24. I think good economic indicators, general love for the company, AI growth, and cloud computing growth will give the stock a big jump if they surprise earnings…which I’m betting on with a call expiring 2-3 months out.

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META

I’ve been skeptical of META in 2023 but looking at its trajectory, I’m going to target META more in 2024. META has its earning call AMC 1 Feb 24. META has had a great run in 2023. It’s been steadily growing throughout the years. Looking at the chart, META doesn’t have big corrections after earnings are released. It just jumps and then slowly grows. Business Insider is also reporting META is ordering NVDA’s top-of-the-line AI chip with the Zuck wanting to make META a top AI company. There’s a lot to look forward to in a call expiring in 3-6 months deep in the money!

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NVDA

Finally, NVDA has its earnings call AMC 21 Feb 24. That’s about a month out from now and a lot could change with government numbers, other stock prices, and world events. I’m usually bullish on NVDA so as the time nears and if an iota of indicators show positive things in the government and in the company I expect to buy. I’ll probably use a put/call spread since NVDA has done some immediate bearish corrections even when it has huge revenue numbers but I’ll get more specific soon!

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Conclusion

These are probably the 4 main companies I’ll focus my options strategy on in the coming weeks. I usually buy the day before to avoid any big dips right before the earning call like a few of these stocks love to do. I’ll be back to advise on what my final purchases were and where they end up after I sell. Happy trading!

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