At Portfolio Accelerator today, Uber was a name that was getting everybody excited. It looks like it's setting up for another run to and through all-time highs.

A bank from one of the world's largest economies is breaking out. How bearish can the stock market be in an environment like that?

The breakout is a new all-time high, and you guys know how I feel about new all-time highs. (hint: I love them)

Market conditions feel to be improving and taking a shot on some high beta names might be well worth our effort in the coming weeks.

As such, today's trade is in a name that has the potential to 5x or more if I get the follow-through I'm betting on.

Literally.

The trade today is in a company that actually makes money, minting coins. You know, the coins you drop in the pinball machine.

So, no matter how you think about it, the fundamentalists cannot say that this company does not make money. It always makes money.

Fun and word games aside, we've got a trade that has signaled the next big move and today's trading action is offering us a nice pullback in which to get involved at better prices.

The market continues to send signals that nearby risks are elevated, and there is no clear indication to us in which direction the next sustained move will come.

So, as has been the vibe for the past couple of weeks, I'm looking for trades that can offer my portfolio some diversification. 

With this in mind, Steve Strazza presented a bearish setup in Block $SQ that checks the boxes for me to add some short exposure to my portfolio to counterbalance the mostly long positions I currently have on the books.

Check out this one-year chart of $SQ:

The stock has been in a downtrend since long before the indexes peaked this summer, cementing its leadership to the downside.

We contend that if the broader stock market is in for further downside action, $SQ will likely be one of the stocks leading the way. As such, we're going to position with options to take advantage of a possible retest of last October's lows.

Here's the Play:

I like buying $SQ December 55 puts for approximately $3.25 per contract. This premium I pay today represents the absolute most I can lose in this trade.

But I'll be looking to exit...

The Analysts here at All Star Charts were discussing Natural Gas in a recent analyst meeting, and the feeling is that 'ol Natty might be putting in a bottom and ready to reverse higher.

It's certainly got me in the mood to 'F around and find out.'

With yesterday's market action firing, potentially, another warning shot that Q4 trading will be challenging, I'm on the hunt for opportunities that may be a bit more uncorrelated to the risk I currently have on the books.

One such opportunity is presenting itself in the bond market and we're going to position ourselves to win both in the short-term or the longer-term.

My analyst team took a look up north, eh!

And what did they find? A liar standing next to a whole in the ground. (Old gold speculators joke).

While that line might be a joke, nobody will laughing at today's trade idea if this stock makes a run to anywhere near our price targets.

Hey everyone. If you caught our livestream this afternoon at the close, you saw the earnings trade I put on for $NVDA using options.

If you didn't watch us live, then you missed the trade, and it's too late now. No biggie. You can skip the rest of the note.

If you did watch, and either you're watching from the sidelines and interested in how it plays out, or you did take the trade, read on. We'll discuss how I'm going to handle the exit tomorrow morning.

As a reminder, this afternoon, we put on a put ratio spread (1 x 2) in $NVDA Aug 30 (weekly) options. We sold short one 125 put and purchased two 115 puts for a net credit of $1.15, right at the last minute before the closing bell.

The PnL graph of this trade looks like this:

As of the time of this writing (7:30ET), here's a one-minute chart of $NVDA since the market closed at 4pm ET (2pm MT on this chart):

As you can see, so far, it...

My Commodities desk put out a trade of the week that we're going to jump into with options as well.

No need for a long preamble. It's a bull market and we're acting accordingly.

Back on a July 15th episode of The Flow Show, Strazza and I put on a trade in Viking Therapeutics $VKNG. You can get all the trade details here.

We still like the setup, but with September options, our original position is running out of time.

And recently, the Analysts published a report that makes me think I should roll my position further out in time:

This morning, the team was discussing a notable Board of Directors insider making a sizeable $5 million purchase of stock.

While an insider's buy isn't necessarily grounds for me to get interested in getting involved, it did catch our attention and after looking at the chart and the sector, it looks like a trade we'd like to get into--carefully.