Nov 8, 2022

Options involve risk and are not suitable for all investors. Please read Characteristics and Risks of Standardized
Options before deciding to invest.

Over t h e last 4 m idt er m s, w h at h as in cr eased in

valu e 1-m on t h lat er ?
It is gold! Three big ways of playing this asset.
1. Gold ETF, GLD
2. Gold futures, / GC
3. Micro Gold futures, / M GC
GLD is the easiest -- / GC is big since it represents
$171k worth of gold but is efficient since it requires
under $8000 worth of buying power to trade on
tastyworks. / M GC is more manageable at $17.1k and
can be traded with $800 worth of buying power.

Bon d ETF Gold

S&P 500
Gold

Bon d ETF

S&P 500

Gold
Gold

S&P 500

S&P 500 Bon d ETF

Bon d ETF

© tastytrade, 2022 Michael Rechenthin, PhD | James Blakeway Page 1 of 7

Top Heavy Dow United
Healthcare (UNH) continues to
defy market gravity in 2022 and
is up nearly 10% YTD. As the
highest priced stock in the Dow
Jones Industrial average, UNH
is the largest component. Its
strong return for the year has
pushed it even higher in the
weighting as it now makes up
nearly 11% of the index.

Check out the table to see how

all the Dow weightings have
changed so far this year.

Top Dow components + the Dow Jones ETF (DIA)

2022 Returns

© tastytrade, 2022 Michael Rechenthin, PhD | James Blakeway Page 2 of 7

 Tw o pot en t ial bu llish t r ades in Gold (GLD) Implied volatility rank is low-ish, but we used the Alpha
Boost trade generation system to find two possible trade ideas.

© tastytrade, 2022 Michael Rechenthin, PhD | James Blakeway Page 3 of 7

 Th r ee pot en t ial t r ades in t h e Nasdaq-100 Implied volatility rank in the Nasdaq is still above 30. We
used the Alpha Boost trade generation system to find three possible trade ideas for the Nasdaq-100
ETF (QQQ).

© tastytrade, 2022 Michael Rechenthin, PhD | James Blakeway Page 4 of 7

 Disney?s (DIS) stock price has been
cut in half since March of 2021 and
now sits at a price level seen in the
worst days of the 2020 selloff. DIS
traded below 100 earlier this year
before rallying back above $120 in
August. DIS reports earnings
tonight after the close and has an
expected move through Friday of
±$8.03.

Despite the 2021 meme-stock fiasco

which propelled AMC Entertainment
(AM C) to levels above $72 per
share, the company hasn?t posted a
positive earnings per share result
since 2020. The company continues
to struggle and reports earnings
tonight after the close. With the
stock at $5.43 there is currently a
±$0.71 expected move through the
end of the week.

After hitting lows near the $20

mark, Roblox (RBLX) rallied over
100% from May to August, with
another pullback recently. Those
bullish on the stock hope
tomorrows earnings report will
show progress for the company and
push the shares higher. The
expected move for RBLX this week
is currently ±$5.92.

© tastytrade, 2022 Michael Rechenthin, PhD | James Blakeway Page 5 of 7

 In t er est ed in join in g t h ou san ds of ot h er f in an ce geek s?
Sign up for a free weekly subscription at:
info.tastytrade.com/cherry-picks

© tastytrade, 2022 Michael Rechenthin, PhD | James Blakeway Page 6 of 7

Glossar y
IV. Implied Volatility is the estimated volatility of a security?s price derived from its option price; the higher the IV,
the more expensive the option and therefore the larger the expected price move. IV is an annualized number of
volatility, e.g. a IV of 27 means the option?s market is pricing in an annualized price range, either plus or minus, of
27%.
IV Ran k . IV by itself doesn?t tell us if if the volatility is high or low - but IV Rank does. An IV Rank of 70 means that
the IV is 70% between its low and high IV over the past year. The higher the IV Rank, the higher the security?s IV is
compared to its past year. We provide six levels to make evaluating easier
Opt ion Liqu idit y. At tastytrade we have our own theoretical measure of option liquidity, Poor, Moderate, Good,
or Great. It examines the options?bid/ask spread, open interest, and the number of strikes with non-zero bids
Cor r elat ion w it h S&P 500. Correlation is a statistical measure of how strong a relationship two securities have
with one another. A correlation of -1 means the stocks are perfectly negatively correlated (they move in opposite
directions), while a correlation of +1 means the stocks are perfectly positively correlated (they move in the same
direction). A correlation of 0 means there exist little relationship.
Ear n in gs. The earnings date of the security. In practice we tend to see stocks have a larger amount of implied
volatility (IV) nearer to earnings as the market is pricing in the fear of the upcoming earnings announcement. In
parenthesis, is BTO or AMC; "Before the Open" or "After Market Closes", respectively. Upcoming earnings dates do
sometimes change.

Disclosu r es
Options involve risk and are not suitable for all investors. Please read Characteristics and Risks of Standardized
Options before deciding to invest in options.

tastytrade content is provided solely by tastytrade, Inc. and is for informational and educational purposes only. It is not, nor is it
intended to be, trading or investment advice or a recommendation that any security, futures contract, transaction or investment
strategy is suitable for any person. Trading securities can involve high risk and the loss of any funds invested. tastytrade, through its
content, financial programming or otherwise, does not provide investment or financial advice or make investment recommendations.
Investment information provided may not be appropriate for all investors, and is provided without respect to individual investor
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situation or investment objectives. Supporting documentation for any claims (including claims made on behalf of options programs),
comparison, statistics, or other technical data, if applicable, will be supplied upon request. Multi-leg option strategies incur higher
transaction costs as they involve multiple commission charges. tastytrade is not a licensed financial advisor, registered investment
advisor, or a registered broker-dealer. Options involve risk and are not suitable for all investors. Please read Characteristics and Risks
of Standardized Options before deciding to invest in options.

Futures accounts are not protected by the Securities Investor Protection Corporation (SIPC). All customer futures accounts' positions
and cash balances are segregated by Apex Clearing Corporation. Futures and futures options trading is speculative and is not suitable
for all investors. Please read the Risk Disclosure for Futures and Options prior to trading futures products found in Disclosures under
the Documents tab.

© tastytrade, 2022 Michael Rechenthin, PhD | James Blakeway Page 7 of 7