Just filled a gap and there is another one at 326.50. Got the first bounce there with increased volume and up/down has sunk to 10/90. Next 30 minutes gonna tell a lot.
Just looking at the orders and options expiring today at this level for SPY, and I believe we are going to close slightly above 330. Looks like someone sold a bunch of puts at this level.
Friday afternoons are so nice after a solid power hour. Let's hope for that. Only buying ITM and 6+ months out options at this point. I have no idea what I'm doing haha
Futures opening in an hour. Should be another interesting week. Posted levels in earlier posts, but will post again here. SPY 319.5 is the "bottom" for the week that if we break will probably have people extremely scared and panicky. You will get your massive VIX ramp if that happens. 323 also the "death level" from before. Above, I am anticipating we touch 332.5 and then a good chance at touching 335 again. We can rally to 339.5 if too many people flipped short and get squeezed out. Most definitely looking at more downside though. Do not think we are going to just crash out of nowhere. It will be a slow, zig-zag descent with people getting caught on both sides. Best bull scenario that I am personally looking at is a chop in the 328-345 zone. If you're in calls, I would suggest taking profit daily in this environment.
Ooooo getting a really nice opp to buy silver and gold this morning. Dollar just broke to bullish trade levels which is signaling a potential deflation again in Q4. Get out of tech if you haven't already
New to these words, can you explain the correlation between your observations and it’s impact on the tech market?
There's four quadrants economically split between growth and inflation variables. A down growth and deflationary environment is the only 1 of the 4 where the tech sector has negative returns. The dollar only goes up in that environment, so it signaling lower lows, higher highs and breaking through resistance is a bad indicator.
Meh. I’d sell the high flyers, yes. But Apple was around $90 in late June. It’s 20% off the 135ish highs right now. It hasn’t gone below $100 since July 30. Sell the $100 strike puts. Absolute Worst case, you’re straddled with the best company in the business. The 60 dte (nov. 20) are selling for 5.70, so your new cost basis is 94.30 and you’re ~4% off where it ran up from. No way there’s not major support past 90. Best case, you just made $570 a contract.
Early update: we touched 332.5 in futures overnight and then dipped out. Filled gaps on the way down to 323 now, so we have covered a lot of ground already. Unfortunately, not seeing a lot of positive signs right now. This shit is looking bidless in spots. We just dropped $2 in SPY in a single 5-minute candle. Bids are off the table for now it looks like. Over 90% of S&P 500 is down. Congrats to that guy up on AMD lol that is a miracle. Haven't looked but possibly the one tech stock not melting.
Over 95% of S&P down now. DXY has pumped back up to the moon. VIX up 15%. VVIX up 15%. Treasuries up big. Really does look like 319.5 will be tested today.
I bought back into SLV 3.19.21 $23c when the fund was down 3.8% today. Maybe a bit early, but I think it'll pay out if held
https://www.investors.com/news/bank-stocks-fall-on-suspicious-money-flows-report/ "Bank stocks fell Monday after an investigation by news organizations found some of the world's most well-known financial institutions moved more than $2 trillion in suspicious transactions despite the money's ties to alleged militants, drug traffickers and corrupt officials."
God damn that was furious run into the closing bell. Jumped in on SPXL at around $47.15, but sold half at $48 and the other half at $48.25, expecting a pull back into the close. Wish I had held it longer but definitely can't complain
Did it remind you of anything? Did the entire day remind you of anything? Compare today's open, low, and close with 7/31 on the SPY chart.
https://pbs.twimg.com/media/EieE-4QXYAAK0qi?format=png&name=900x900 Damn. This is actually a pretty scary picture. When I was talking about SPY going bidless earlier on that $2 drop in one 5-minute candle, this is what I was talking about. Bottom can fall out real fast if this environment persists. Picture from Zerohedge.
From the insane options plays list today: yesterday someone sold 1-12 Carvana weekly $190 calls for $2 each. Today those were worth $3800 each at the high. Damn near 2000-bagger. Just found a better one in the $195 calls. 20 contracts at $1 each yesterday morning. Today's high for that strike was $33.90 but only 1 conract traded at that price. So potential 3390-bagger if it was the same guy.
Any predictions for TSLA opening price tomorrow after the battery day event? I have a hard time believing they could unveil anything to justify current price, much less a big jump, BUT this stock hasn’t followed any logic for a long time now so nothing would surprise me
Battery day feels like a “sell the news” kind of event but who tf knows. Most expensive meme stock known to man.
Been sitting on these BBBY calls for pre earnings action and finally getting some payoff today, up 88%