Options, Futures & Fx Trade Update
We closed out the SPY Nov 21st $640 Short Put on Wednesday for a profit of $397 per contract. We are now looking to sell the SPY December 19th $620 or even $630 strike. We placed an order last night for the $620 at a limit price of $5 which did not get filled. We will see what happens today and may consider the $630 also.
Long Term Stock Portfolio Update
We've already closed out two positions Entain and Vestas Wind Systems, one with a 50% gain and another with a 30% gain, both achieved in less than six months.
Short Term Stock Trades
We will not be adding any more short term stock trades until we exit two of the above positions.
Markets Review
📅 Market Review for Thursday, November 6, 2025
Thursday, November 6, 2025, was characterized by a sharp sell-off in US equity markets, particularly in the tech sector, driven by renewed concerns over high valuations and signs of a cooling labor market.
📈 Equities (Stocks)
US indices closed sharply lower, erasing the previous day's gains:
The Nasdaq Composite saw the largest decline, tumbling by -1.9%.
The S&P 500 dropped by -1.1%.
The Dow Jones Industrial Average fell by -0.84%.
The declines were concentrated in the Technology and Consumer Discretionary sectors. Concerns over AI stock valuations resurfaced following mixed earnings reports, leading to significant drops in mega-cap technology and chip-related stocks like Nvidia, Palantir, and AMD. Exacerbating the negative sentiment was the release of private-sector data showing US employers announced over 153,000 job cuts in October, the highest for that month in over two decades, which fueled fears of a deeper economic slowdown.
In Europe, the FTSE 100 closed slightly lower by -0.4%, and the broader STOXX Europe 600 fell by -0.7%.
🏛️ Bonds
US Treasury yields generally moved lower on Thursday, reflecting a flight to safety and increased bets on future Federal Reserve rate cuts following the weak jobs data.
The US 10-Year Treasury yield fell to approximately 4.09%, down from its close around 4.16% the prior day. The drop in yields indicates rising bond prices, as investors price in a higher likelihood of the Fed resuming its easing cycle to support the softening labor market.
💰 Commodities
Commodity prices were mixed, with energy futures under pressure:
Crude Oil (Brent and WTI) saw declines. Brent Crude was down by approximately -0.44% to around $63.24 per barrel, and WTI Crude was down about -0.60% to $59.24 per barrel. Prices were weighed down by persistent concerns over global oversupply, compounded by data showing a larger-than-expected build in US crude stocks.
US Natural Gas (Henry Hub) continued its upward momentum, rising by approximately +1.30% to close near $4.29 per MMBtu. This strength came despite a near-expected build in the weekly EIA storage report, as strong underlying demand drivers—namely record LNG exports and forecasts for colder winter weather—kept prices elevated.
Gold held near the $4,000 per ounce level, supported by the softer US dollar and the rising recessionary/slowdown fears implied by the job cuts data, which offset the impact of the initial sharp jump in Treasury yields.
💱 Foreign Exchange (FX)
The US Dollar Index (DXY) weakened significantly, falling by about -0.5% to around 99.69, primarily due to the gloomy US labor market data which boosted expectations for Fed rate cuts.
The Euro (EUR) strengthened against the Dollar, with EUR/USD regaining ground after dipping earlier in the week.
The British Pound (GBP) saw volatility, initially dipping after the Bank of England (BoE) held interest rates steady but then rebounding to end the session slightly higher against the weak dollar, trading around $1.31.
The Japanese Yen (JPY) gained marginally against the dollar as the lower US yields reduced the interest rate differential.
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