Market Commentary: Stocks staged a bit of a turnaround on Friday but I'm still skeptical of a them going much higher at this point. It's going to be another big week of earnings from companies like Apple and Amazon so we'll have to see how the market reacts to them. Neutral bias.
Symbol: ENPH
Direction: Bullish
Strategy: Short Put Spread ($10-wide)
Strike Selection: Sell -1 ENPH 145 Put; Buy +1 ENPH 135 Put in Sep-15'23
Probability of Profit: 64% (75% P50)
Comments: Enphase has to be close to bottoming as most Wall Street analysts have downgraded the stock by now. The company is still growing like crazy yet the stock hasn't been able to hold a bid this entire year.
