Hey, what's going on? Welcome to October Man oh man do we have some fun stuff to talk about today, namely the clown show that is the current political Arena We're going to be getting into the government shutdown that didn't happen but almost happened and the current blowback from it from there. I have some interesting updates related to Elon Musk and Tesla and some out of left field commentary about X and Bill Ackman And then from there a breakdown of what's going on in the stock market and some of the trades that were taken today. If this is your first time seeing one of my videos, my name is Matt I'm a degenerate Trader everything from stocks to options to Futures to crypto and I like to do these types of wrap-ups of everything going on in the world that you might have missed while you were busy at work and I was just degenerately Doom scrolling on I guess Twitter well now named X Well anyway, if you like this type of content, don't forget to hit the Subscribe button and with that being said, let's ride. By the time the closing Market bell went Diggity Ding ding ding today October 2nd to kick off the new month, the new week and hey, let's call it a whole new mindset.

Well, things were a little bit Rocky to say the least. Dao slides to begin October Even as Congress staves off government shutdown now, a lot of people rightfully thought that the whole government debacle of will it shut down won't it shut down could cause some apprehension and we saw that. But overall it really wasn't too too bad. I mean the Spy right here ended up closing out the date just down 40 cents point zero three percent and then the tech sector was actually a bit stronger closing up on the day three dollars which was up 0.85 Now, the reason the Spy did so much worse on a relative basis to the tech sector is we had certain things such as energy and utilities that absolutely vomited and I'll talk more on that in a second.

But first, since we are starting off a new week and more importantly, a new month I Want to remind you of where we are seasonally and this is by no means a guarantee of how things have to play out, but it gives us a good idea of how things have played out in the past in this exact same time period Well the start of October a little bit Rocky but by the time you get through a third of the month from there to pretty much the end of the year, really halfway through January things do pretty much favor the Bulls now. I Just want to bring this up of I want to be yoloing into every call I can find right now, but maybe I would be into that idea once we get through the start of October and also be a little bit worrisome about what happens around Thanksgiving but we'll talk more about that when the time comes. So obviously this is seasonality. As I said before, it's by no means a guarantee of what's going on this time around.

There's a very good shot of if the market goes up or down is going to be the hands in the hands of our elected clouds. Biden Signs 45-day Funding Bill To keep government open. This was very much a last hour last minute deal. and hey, that's good that the government's not shutting down, but there is going to be quite a bit of blowback from this.

and it's really because of maybe the tentative alliances that were made to get this bill pushed through. Biden Plans: Call with allies to reassure support for Ukraine Call between's allies could take place as early as tomorrow U.S Congress Omitted six billion in aid from the spending Bill Well, it's that exact bill that got passed so we didn't shut down then. Obviously you had some right-leaning people who didn't want in their left-leaning people who did want it in there. And now, the best way to sum it up is that basically everyone is fighting and this fight is in no way boating well for Biden But it's not just this fight, it's the whole situation of what's going on in the economy.

The spending, the exorbitant spending, the lack of saving the inflation from a checkbook standpoint, people are simply not happy. So, according to a recent poll, President Biden's approval rating has fallen to The lowest level since he took office. His approval rate dropped five percentage points to 36 and his disapproval rate went up to 54. and just specifically on the economy.

his approval is now a dismal 24. While his disapproval rate on his handling of the economy it created by Dynamics is all the way up at 56. That is not a good looking situation. So in terms of everything that's going on, obviously it's a bit of a pie in the face for the donkeys or the Democrats, But also arguably things aren't looking the best for Republicans right now.

Representative Matt Gates says he will move to Oust house. Speaker Kevin McCarthy Quote unquote this week and obviously Matt Gates is angry that Kevin McCarthy made to deal with the Democrats to get the spending bill passed through. He thought he should have been a little bit more on the GOP side and not make any form of concessions. but hey, here we are.

Republican Representative Matt Gates said he intends to follow a motion to vacate against house Speaker Kevin McCarthy this week, by week's end, he will either not be speaker or who you will be speaker serving. At the pledge measure of Democrats Democratic Representative AOC of New York said she would absolutely vote in favor of a motion to house. McCarthy Whoever is or isn't the next speaker of the house I Just hope they know the difference between an exit for a door and a fire alarm. Now obviously, if you don't get that joke, go open up.

Twitter X and you'll get it. It's actually pretty funny. and for the people who do get it I Think you could agree that our elected officials should successfully be able to pass the test of is that thing a door or is it a fire alarm? Hey, I Think it's just an easy way to call out some of the riffraff that shouldn't be in the world of politics. Now moving on to our boy Elon Musk and a big update related to Tesla Actually, just really quickly to give you guys an idea.

Tesla Opened up today pretty low at 245 ish. ended up getting as high as 254. closed out the day in the green gained 1.40 up 0.55 which based on the initial pre-market reaction, was pretty good I Think that this surprised a lot of people Tesla Reported 435 000 deliveries for the third quarter and production of 430.5 000 Vehicles Total deliveries for Q3 2023 435 059 Total production for Q3 2023 is 430 488 During the previous quarter, Tesla Reported total deliveries of 466 000 and total vehicle production of just the Hair below 480 000. during the same period in 2022, Tesla reported total vehicle production of just below 366 000 and deliveries of 343.8 000.

So obviously, even though as you're about to see this came in below Wall Street expectations, it's still above the exact same period from the priority year, But in terms of these: Wall Street expectations I Think they were wrong for pretty obvious reason and I'll be explaining that in a second. a sequential decline in volumes was caused by planned down times for factories upgrade grids. as discussed in the most recent earnings call our 2023 volume Target of around 1.8 million Vehicles remains unchanged. So this is what the company Tesla had to say on the last earnings call, so the drop was not that surprising.

In fact, it was not surprising at all on a quarter over quarter basis. but I guess the size of it maybe took some Wall Street analyst by surprise, but not everyone. CEO Elon Musk Caution that Tesla would continue to Target 1.8 million vehicle deliveries this year 2023, but expected third quarter production to decline slightly following quote-unquote summer shutdowns for a lot of factory upgrades Wall Street Was expecting Tesla deliveries to reach 461.6 000 for the period ending on September 30th, but once again, that's Wall Street and most of the time Wall Street is comically wrong because sometimes there's just run-of-the-mill Twitter accounts who, for whatever reason have better analysis of the situation or are just seemingly more informed. Hi everybody.

Here are my final Tesla production and delivery estimates in format that's easy to compare to the actual numbers. I'm aiming for less than a three percent error as usual estimate 441 000 and the consensus was 454 000 Uh, and then if you look at production coming in at 428.5 pretty freaking solid. At least way more accurate than what the analysts had to say about it. So once again, leave it to the power of Twitter X being better than Wall Street analysts for this long term.

If you guys have listened to me at all, you know I'm a big time long-term Tesla Bull. Obviously, in the short term it's a volatile stock. It could go up a lot. It could go down a lot, but in a long term I just really like its growth potential.

That's my opinion. Obviously do your own due diligence on it. But when I see things like this of Wall Street or Listen to Someone Like gym channels, they want to beat the stock down. They don't get the support behind it.

But hey, here we are Tesla up over a hundred percent on the year. Speaking of Elon Musk and X and Twitter and all that Bill Ackman tweets a lot of Big Ideas his biggest might be combining with Twitter itself. So Bill Ackman a famed investor of Pershing Square So obviously when he says something, people tend to listen. Ackman's firm Pershing Square receive regulatory sign off Friday for a novel investment vehicle whose per purpose is to invest in a privately held company and take it public.

When asked by The Wall Street Journal if you would consider transaction with X, the billionaire investor said absolutely. So first of all, this uh, special purpose vehicle. so you might be thinking of a fact special purpose acquisition company uh, and then this one, What he's coming up with is an Spa RC a special purpose acquisition rights company. So in the same vein of thought, but not exactly the same thing from like a legal regulatory Wall Street Perspective: The chances of Ackman pulling off a deal for X aren't great.

Must spend 44 billion just a year ago to buy the company and told people around that he could take it public. In a few years, X's ad revenues have dropped. Musk has said in part because his management has scared advertisers away and his purchasers added 13 billion in debt metrics that are unlikely to play well with public investors. Ackman said he has no idea if X is interested and would still need to determine whether or not a deal is doable.

X Had no comment on that I Want to get your thoughts because from a purely fundamental Financial standpoint I Understand that this is probably not the best time for Twitter X to make its debut again once to the public markets, but maybe just maybe there's a lot of people who are going to more so be supporting Elon Musk Obviously he has a big fan base. there's a lot of people who are supporting free speech, and I think when you really look at the numbers in terms of daily usage month over month usage I think a lot of advertisers are going to say okay, we're pushing that virtue signaling aside, it's time for us just to get exposure to a large audience. and obviously X has a very large audience. So I Want to get your thoughts on X making its public debut once again.

Would you invest? Would you not invest? Maybe the fundamentals are a little bit Rocky at first, but maybe you're looking at the growth potential and then beyond that. obviously talking about Elon and Tesla and the production numbers, the delivery numbers Hey long term I'm still very happy with Tesla I Want to get your thoughts on it now? Move. Moving on, talking about the market: This Is My Weekly Newsletter You could get it for free on Macwares.locals.com Sign up. it's free F-r-e-e You get my breakdown of the previous week and what I'm looking to this upcoming week from there: I Lay out all the major macro economic events for example, today as I'm filming this Monday October 2nd, the ISM Manufacturing numbers really pop the market up.

Pal spoke at 11. CNBC had the only audio and it was absolutely horrible. And later on this week we're going to get the Jolt's job openings. We're going to get initial, uh, jobless claims, We're going to get the unemployment rate.

all that good stuff. But anyway, it's a just a nice place to have the breakdown. all the macro economic events, the upcoming earnings that I think you're going to care about. For all those of you who are fans of Jazz cabbage, Tilray will be reporting before the Market opens on Wednesday and then I also give you the individual seasonality for every day of the week.

so Monday favorite of the Bulls hey, today was slightly Green tomorrow leaning bearish Wednesday slightly actually very bullish Thursday neutral and Friday pretty bearish. I Also give you an update of the zero DTE option strategy that I want to break all that down for you because today, instead of doing one but two, we actually ended up doing three and we went three, four three. So I'm gonna be covering that in a second. Uh, I do charts of interest of the major breakdown breakout levels despite and the cues every time and then other ones of Interest like Tesla with the fake out breakdown, rivian with the legitimate breakout and AMD knocking on the door of either a breakout or a fake out breakout leading to a breakdown and then I also just provide some other useful data points.

Now in terms of zero, DT and all that stuff, like I said, this time we did three, it was put credit spreads one on the Spy Two on the queues so basically needed this by above 425. Well, if you look at where the Spy ended up concluding today, it was at 4 27 so that one was easy peasy, lemon squeezies making 17 bucks. A similar situation on the queues needed above 357 made ten dollars and then on the other Keys play you needed above 357 made 15. Now if you broke all this math down, there's three plays to take all three plays.

All you would have to have in your account is 258 dollars. With 258 dollars, you would have received 42 dollars in profit, which is a 16 return in one day. These calls were made at earliest at 10 A.M I Think one of them happened at 11 am. so within one day a 16 return.

and if you're at all familiar in the world of selling premium, this was a hundred percent capture rate captured all the premium. So obviously the three plays were here, they were all called out. If that is at all something that interests you, you could also get this on locals. but starting off the week strong, going three for three.

Hopefully we can continue the week in a very strong note. Speaking of other things going down this week, just one final thought: Trial a former FTX head Sam Bateman Breed set to begin Tuesday October 3rd I looked into it. Unfortunately, this is not going to be televised. They're starting to pick the jury tomorrow.

They estimate that it's going to last about six weeks and there's already crazy things happening with it. Michael Lewis Who is the author of Flash Voice? He was actually writing the book on Sam Bakeman free. He did a 60 Minutes interview. In my humble opinion, very much embarrassed himself talking about how it was a great business and the crypto economy.

The markets as a whole have a Sam bacon size freed hole like it was just absolute lunacy. So I'm kind of getting excited because I think we're going to get some pretty special entertaining moments out of this entire I guess legal debacle. So that's what I have for you today I Hope to catch you in the Stream tomorrow morning 9 A.M Bright and early. You better be there if you enjoy these type of updates.

Let me know in a comment below. If you have any questions, obviously, ask away and other than that, I'll catch you later I Appreciate your time, have a good one.