I’m here to help educate and mentor others. Just opinions, thoughts, and comments. NOT investment advice. SUBSCRIBE at https://t.co/o2yI5JVtXjoptionstrading101.com Dallas, TexasJoined August 2023
$SPX $SPY
2026 JPM Q3 Collar:
Q2 2026 may end with a squeeze…
But Q3 has a fresh upside map.
As we close out the quarter, don’t be surprised if the market sees some rebalancing or profit-taking.
That’s normal quarter-end mechanics.
But the bigger setup is what comes next.
The new Q3 JPM collar appears to reset with:
Short Call: 7,890 SPX
Long Put: 7,090 SPX
Short Put: 5,990 SPX
Expiry: Sept. 30, 2026
That makes $SPX 7,890, or roughly $SPY 789, the new upside reference point into the end of Q3.
Why does 7,890 matter?
Because JPM’s collar typically sells an upside call to help finance downside protection.
With $SPX rolling near the $7,499 area, a call cap near $7,890 lines up with about +5.2% upside from the roll zone.
From July 1 to Sept. 30, the market has roughly 64 trading days to work toward that level.
That window includes:
Inflation checks:
Jul 14 CPI
Jul 15 PPI
Aug 12 CPI
Aug 13 PPI
Sep 10 PPI
Sep 11 CPI
Fed meetings:
Jul 28–29 FOMC
Sep 15–16 FOMC
Plus, the full July/August earnings gain window.
So, the roadmap is potentially in place.
Q2 end: rebalancing, squeeze
Q3 start: fresh collar reset, fresh earnings runway, fresh upside target.
Destination zone: $SPX $7,890 / $SPY $789 into late September.
Not a guarantee.
Not a straight line.
But this gives us one of the cleanest institutional levels to track for Q3.
$SPX $7,890 $SPY $789 is now on the board.
👇👇👇
x.com/JP_Money_95630…
Tomorrow morning, Kevin Warsh will be speaking at the ECB Forum on Central Banking in Sintra, Portugal, at 9:00 a.m. ET.
This will be one of his first major international appearances as Fed Chair, and the market will be paying close attention to both his comments and his tone for clues about future Fed policy.
His remarks have the potential to move the market tomorrow morning.
Good Morning!
Futures are showing modest gains, with ES +10 and NQ +72.
Oil prices remain lower, with WTI crude around $70 a barrel.
The market is keeping a close watch on ongoing US-Iran peace talks and Strait of Hormuz developments. Oil prices continue to influence the inflation outlook, especially with a data dependent Fed that may consider rate hikes later this year.
$NVDA is leading the Mag 7 this morning.
$AMAT is up 3% and leading the chip equipment subsector higher this morning. These equipment made by these companies are essential for manufacturing advanced chips at scale. Without them, we wouldn't have any chips. $AMAT, $ASML, $LRCX, $KLAC.
$RKLB is up 3% and leading the space stocks again this morning. It's showing continue strength after yesterday's $8 billion acquisition announcement of Iridium Communications, which positions Rocket Lab as a vertically integrated space company with satellite constellation and communications capabilities to compete against SpaceX’s Starlink.
$AVAV is up 30% after reporting a strong Q4 earnings beat yesterday, reflecting a strong demand for its drone and defense systems. It's leading the other drone stocks higher this morning. $KTOS, $ONDS, $UMAC
Solar stocks are flying this morning due to the U.S. reportedly working on restrictions targeting Chinese energy inverters over national security concerns. This is bullish for companies like $ENPH and $FSLR.
The market is waiting on May’s JOLTS job openings for a fresh read on hiring demand and labor turnover trends.
Investors will also be watching the June Conference Board Consumer Confidence Index to gauge consumer sentiment and expectations.
Both are scheduled around 10:00 AM ET.
$17B was invested into robotics and physical AI in Q1 2026.
That's nearly 10× more than in 2020.
These 16 companies will benefit the most:
1. $OUST – $42.02 52wk: $16.40–$51.50
Ouster's lidar sensors give robots and autonomous vehicles 3D spatial awareness for safe
Semiconductors (chips) are extremely important to the AI ecosystem, especially memory chips like $MU, GPUs like $NVDA, GPUs/CPUs like $AMD, and custom networking/connectivity chips like $AVGO.
While some of these companies like $MU both design and manufacture chips, many others design, but do not manufacture these chips.
They rely on advanced foundries like $TSM to manufacture these chips.
In either case, none of this is possible without the semiconductor equipment makers like $ASML, $AMAT, $LRCX, and $KLAC.
These companies provide the essential tools and equipment (lithography, etch, deposition, inspection) required to produce these chips at scale.
No equipment = no advanced chips.
This means $MU would not be able to produce any chips without companies like $ASML, $AMAT, $LRCX, and $KLAC providing the equipment necessary to make these chips.
More demand for chips = more demand for equipment.
Know this...
$MU makes memory chips. They aren't in either the AI connectivity/photonics or chip equipment sectors that I mentioned.
However, $ASML, $AMAT, $LRCX, and $KLAC make essential equipment used to manufacture $MU chips.
Without those companies, you don't have $MU chips. You won't have any chips. So those companies are just as important, if not more important.
The two hottest subsectors in AI/tech stocks right now:
AI Connectivity / Photonics
$AAOI $LITE $GLW $COHR $CIEN $FN
$ALAB and $CRDO have also moved strongly into the photonics space.
Chip Equipment Manufacturers
$AMAT $ASML $LRCX $KLAC
You should add these to your watchlist if you haven’t already.
$RKLB's $8 billion acquisition of Irdidium Communications positions them as a head to head rival with $SPCX and its Starlink satellite communications business.
The acquisition gives $RKLB an operational satellite network, spectrum, and subscribers as a “shortcut” to compete directly in the satellite communications space against Starlink.
I’m not an investor, I trade short term weekly options.
I make my money from volatility and price action. $NOK is a slow mover that only moves 1.5 points a week based on its ATR.
$NOK doesn’t have enough volatility or movement for me to trade options on.
As a short term weekly trader, I focus on stocks with real price action and IV potential.
It may be a good investment, but trading options on it is a waste of my time. I look for the high beta setups.
Things that can really move. All the names I listed above are in that category.
U.S. STOCKS RALLIED AS BUYERS RETURNED TO TECHNOLOGY SHARES FOLLOWING THE RECENT AI-DRIVEN SELLOFF, WITH THE S&P 500 GAINING 1.2% AND THE NASDAQ 100 SURGING 2.3%.
INVESTOR SENTIMENT IMPROVED AS U.S.-IRAN PEACE TALKS RESUMED, THOUGH OIL REMAINED ELEVATED, WHILE MARKETS ALSO FOUND SUPPORT FROM THE FED'S INDEPENDENCE AND A STRONG REBOUND IN CHIPMAKER SHARES.
Good Morning!
Futures are up, with ES +63 and NQ +356. The techs are strong this morning.
Oil remains lower, with WTI crude around $69 a barrel. Oil prices are down as concerns over the Strait of Hormuz eased.
Market sentiment is up this morning on optimism around AI infrastructure spending and easing geopolitical tensions in the Middle East.
Reports of progress in U.S.-Iran peace talks, which includes a pause in strikes, boosts hopes for de-escalation and a more stable ceasefire.
We saw a boost in the software stocks on Friday. Companies like $NOW and $CRM started moving on relief that OpenAI’s reported financial struggles and delayed IPO may slow the AI threat to traditional enterprise software.
$MSFT is leading the Mag 7 this morning.
The space stocks are moving higher this morning, with $ASTS leading $RKLB and $SPCX.
The chip equipment makers are moving higher this morning, with $AMAT leading $LRCX, $ASML, and $KLAC.
$CMCSA is up 21% pre-market after announcing plans to spin off its media and entertainment assets like NBCUniversal and Sky into a separate public company through a tax free deal. This should let the broadband business and the media side each focus on their own growth.
$BE is up 5% pre-market after Fridays index driven drop, as funds rebalance following its removal from the Russell 2000 and addition to the Russell 1000, on top of strong demand for its fuel cells in AI data centers.
$AXON is up 4% on continued momentum from its strong growth in AI powered public safety tools and counter drone technology. They have been posting big revenue gains in those areas, along with raised guidance, which keeps drawing in buyers.
The market is focused on AI valuations, inflation concerns, government debt levels, upcoming comments from Fed Chair Kevin Warsh, and this week’s jobs report for clues on rate policy.
It's a short week, with the market closing early on Friday for the 4th of July.
Short weeks usually see lower trading volume and lighter participation as many traders and institutions are off or winding down.
Historically, short weeks can still post decent gains on average (especially around positive sentiment periods), but moves are often choppier due to reduced liquidity.
$AMAT is on the move. It's leading the chip equipment names overnight.
They received upgrades from Wells Fargo, B. Riley Securities, and Jefferies on Friday with price targets between $740 and $790, due to strong demand for chip equipment.
Jensen Huang is investing in every photonics company he can find and the reason why tells you everything about where AI is headed (Save this).
Lip-Bu Tan, the CEO of Intel says, when he looks for investment opportunities, he looks for the bottleneck and right now, the bottleneck is the interconnect, the pipes that move data between chips inside an AI data center.
That is why he backed Credo Semiconductor, Astera Labs and Celestial AI on the optical side.
Here is the simple version of what the interconnect bottleneck actually means.
Think of an AI data center like a city, the GPUs are the buildings where all the work happens but for those buildings to function, you need roads connecting them, fast roads that can carry enormous traffic without congestion.
And those roads are now the single biggest constraint on AI performance.
As clusters scale to hundreds of thousands of GPUs, traditional copper wiring is hitting its physical limits and that is where this entire sector comes in.
Credo Semiconductor (CRDO) is the most direct pure play on this theme, Credo makes high speed cables and optical chips that connect GPUs inside data center racks.
Their revenue tripled in fiscal 2026 to $1.3 billion, growing 272% year over year at its peak and four of the world's largest hyperscalers each individually account for more than 10% of Credo's revenue.
Astera Labs (ALAB) solves the connection problem between different chip types.
Astera makes the PCIe and connectivity chips that manage data flow between GPUs, CPUs, and memory without errors or slowdowns.
Their revenue grew 93% year over year to $308 million in Q1 2026 alone.
The optical companies are where the longer-term and potentially larger opportunity lives.
Copper has physical limits, you can only push electrical signals so far before the signal degrades, the heat spikes and power consumption explodes.
The solution is light, fiber optic connections that move data using photons instead of electrons which is faster, cooler and far more energy efficient.
Jensen Huang made this clear at Computex 2026 because copper works as long as physically possible but at greater distances and larger scale, optics takes over.
Coherent (COHR) is the most established optical company in this space.
Coherent makes the lasers, transceivers, and optical components at the foundation of all fiber optic communications.
Nvidia signed a multibillion-dollar purchase commitment and invested $2 billion directly into the company and their customer order books are already extending out to 2028.
Marvell (MRVL) is the most comprehensive bet across the entire connectivity stack.
Marvell makes chips for optical networking, PCIe switching and custom AI silicon.
Jensen Huang called Marvell the next trillion dollar company at Computex 2026 and backed it with a $2 billion Nvidia investment.
Marvell also acquired Celestial AI, the exact company Lip-Bu Tan backed for $3.25 billion, gaining photonic fabric technology delivering 16 terabits per second of bandwidth.
Lumentum (LITE), Corning (GLW), and Ciena (CIEN) round out the major public names.
Lumentum received a $2 billion Nvidia investment for laser and photonics components.
Corning known mostly for phone glass received $500 million from Nvidia for optical connectivity work and is up over 100% year to date.
Ciena runs the optical networking systems between data centers and is seeing analyst price targets raised on the back of the AI optics boom.
Every time a hyperscaler spends a billion dollars on Nvidia GPUs, the surrounding infrastructure, cables, switches, transceivers, optical components has to be upgraded to match.
The smarter the GPU gets, the more the interconnect matters.
Nvidia has committed at least $6.5 billion to photonics companies in the past 4 months alone and the companies building the roads between the GPUs may end up being just as valuable as the companies building the GPUs themselves.
Follow me @MelvinInvests for more AI, semis and the next big market themes.
APPLE SEEKS U.S. APPROVAL TO SOURCE MEMORY CHIPS FROM CHINA’S CXMT: FT
Apple is seeking U.S. government clearance to purchase memory chips from Chinese DRAM maker CXMT, according to the Financial Times.
The move aims to ease supply shortages and rising memory chip costs driven by AI demand.
CXMT is on the Pentagon’s Chinese Military Company blacklist, making the proposal politically sensitive despite no current legal ban on purchases.
If approved, the deal could diversify Apple’s memory supply chain and reduce dependence on Micron, Samsung, and SK Hynix. (ft.com)
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