Market update: S&P 500 E-mini futures up 4.94% year-to-date
Last month, as we moved into June, buyers retained control of the market, posting higher highs and higher lows. We said that if buyers maintain control, they will likely target the $6,100 level followed by a push to new all-time highs. That’s what ended up happening.
Price action bounced off $6,109 on June 16, dipped to $5,959 on June 22 and then rallied to new all-time highs. We currently sit at $6,247.50. Price action shows hesitation above $6,200, but buyers have maintained control.
Price action since June 22 has been dominantly bullish, and it’s possible we will see a continuation as we move into July.
That said, if we see selling pressure find a footing in the near term and we test the downside, look for sellers to target the $6,110 to $6,160 range. The next level below that range would be $6,000.
A note on earnings trades
To capture the bulk of the volatility of earnings announcements, earnings trades are often executed either the day before or on the day of the earnings announcement. However, earnings trades can also be placed days or weeks before an earnings event, which could lead to early profit-taking.
Alternatively, placing a trade shortly after an earnings announcement can be a strategic choice to circumvent the binary nature of the event. Evaluate each trade in a way that enables you to execute the position that matches your strategy.
If you're considering a trade going into an earnings event, one approach is to initiate the position in the monthly options contract that follows the earnings announcement. This strategy offers flexibility. Should you need to defend your position — perhaps because of unexpected market movements — you have the choice to “roll” it out to the subsequent monthly options. Rolling out the position in this way enables you to extend its duration and potentially collect more premium, providing a buffer against market volatility.
Top 10 stocks to watch in July 2025
- Delta Air Lines (DAL) – July 10, Before the open
- Netflix (NFLX) – July 17, After the close
- Tesla (TSLA) – July 22
- Alphabet (GOOGL) – July 22
- Chipotle Mexican Grill (CMG) – July 23, After the close
- International Business Machines (IBM) – July 23, After the close
- UnitedHealth Group (UNH) – July 29, Before the open
- PayPal Holdings (PYPL) – July 29, Before the open
- Advanced Micro Devices (AMD) – July 29
- Meta Platforms (META) – July 30
Year-to-date price percent change chart for SPY, QQQ, IWM, SLV, and TLT.
- Delta Air Lines (DAL) – Operates a global airline providing passenger and cargo transportation. DAL is down 18.4% year-to-date. Its IVR is 38.3, with July IVx at 58.3, August IVx at 49.4 and its liquidity is rated three of four on the tastytrade platform.
- Netflix (NFLX) – Offers streaming entertainment and produces original content. NFLX is up 49.4% year-to-date. Its IVR is 39.5, with July IVx at 50.2, August IVx at 40.7 and its liquidity is rated two of four on the tastytrade platform.
- Tesla (TSLA) – Designs and manufactures electric vehicles, battery energy storage and solar energy products. TSLA is down 18.57% year-to-date. Its IVR is 27.8, with July IVx at 61.8, August IVx at 65.6 and its liquidity is rated four of four on the tastytrade platform.
- Alphabet (GOOGL) – Parent company of Google, offering internet-related services including search, advertising and cloud computing. GOOGL is down 7.56% year-to-date. Its IVR is 38.3, with June IVx at 29.8, July IVx at 37.6 and its liquidity is rated four of four on the tastytrade platform.
- Chipotle Mexican Grill (CMG) – Operates fast-casual restaurants specializing in burritos, tacos and bowls. CMG is down 7.63% year-to-date. Its IVR is 40, with July IVx at 28.5, August IVx at 39.7 and its liquidity is rated four of four on the tastytrade platform.
- International Business Machines (IBM) – Provides enterprise IT services, software and hardware. IBM is up 32.89% year-to-date. Its IVR is 42, with July IVx at 22.6, August IVx at 34.3 and its liquidity is rated three of four on the tastytrade platform.
- UnitedHealth Group (UNH) – Offers health insurance and healthcare services through its subsidiaries. UNH is down 38.59% year-to-date. Its IVR is 51.8, with June IVx at 34.8, July IVx at 50.7 and its liquidity is rated three of four on the tastytrade platform.
- PayPal Holdings (PYPL) – Provides digital payment and money transfer services for consumers and merchants. PYPL is down 13.86% year-to-date. Its IVR is 32.3, with June IVx at 30.8, July IVx at 41.5 and its liquidity is rated four of four on the tastytrade platform.
- Advanced Micro Devices (AMD) – Designs and produces semiconductors, including CPUs and GPUs for computers and servers. AMD is up 16.04% year-to-date. Its IVR is 13.4, with June IVx at 43.2, July IVx at 50.8 and its liquidity is rated four of four on the tastytrade platform.
- Meta Platforms (META) – Develops social media platforms and virtual reality technologies. META is up 25.16% year-to-date. Its IVR is 24.3, with June IVx at 28.1, July IVx at 38.9 and its liquidity is rated three of four on the tastytrade platform.
Ryan Sullivan is an active options and forex trader and programming producer for the tastylive network.
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