Market can sometimes feel random, and I have found it useful to gauge the key levels of SPY using various means. One category I rely a lot on is the market-makers gamma and vanna exposure levels. Here are some of the key levels I am watching out for today, and a rough trade plan for SPY. Hope it is useful for all ya guys! Leaning towards Bearish With a more negative cumulative GEX on the downside, we are expecting prices to have a slight tendency towards the slide. 521 will be a key pivot level. If price moves below 520, we can expect a strong pull towards 518-519. Depending on how the 0DTE options develops, price is likely to gyrate between 517 - 521. I'll stick to these levels and trade from these GEX green bars. If price moves past the support of 517, I'll shoot
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I opened $MRVL 20240524 72.0 CALL$ ,๐ฆ Rolling my earlier covered call up to 24/5 exp. Moved the strike price down to capture more premium. Another execution cycle of the wheeling on MRVL.
I closed $MRVL 20240517 73.0 CALL$ ,๐ฐsecuring an auspicious 88% credit profit over 9 days! Exit since we hit the profit target. Will continue to enter a covered call in a bit. Wheelingโฆ. ๐
I opened $NEM 20240607 40.0 PUT$ ,โ๏ธ Newmont Corporation (NEM) is currently mining for gold in the financial markets, having outperformed expectations with an earnings beat of 57.14% last quarter. Looking ahead, the company is forecasted to rake in earnings of $2.40 per share on a solid revenue of $16.08 billion this fiscal year. Over the past month, Newmont's stock has climbed a sturdy 10%, trading at a forward P/E of 17.72X and a price-to-cash-flow ratio of 14.12X. Despite the Mining - Miscellaneous industry facing challenges, ranking in the bottom third of sectors, Newmont stands out with promising fundamentals and industry tailwinds that suggest potential upside. Opening a cash-secured put position to bet on Newmont's
I closed $CLSK 20240517 14.0 PUT$ ,๐ฐ clocking 85% credit profit over 14 days. Another nice run of a wheel! Will hold off on CLSK until a better entry comes!
I closed $RBLX 20240517 30.0 PUT$ ,๐งฉ booking 87% credit profits over 5 days. Good to profit from the rebound after massive gap down last week. RBLX remains attractive. Letโs look for entry opportunity this week. ๐๏ธ
I closed $UBER 20240517 71.0 CALL$ ,๐ securing 87% credit profits over 5 days. Exiting since we hit profit target. Looking to do another covered call in a bit! ๐ช
[13/5] ๐ฎ Crystal-balling SPY using Dealerโs Option Flow Data
[13/5] ๐ฎ Crystal-balling SPY using Dealerโs Option Flow Data
I opened $HOOD 20240524 15.0 PUT$ ,๐ Market-makers option flow is showing a bias towards upside at least up to 20 in the near-term. Betting on this bullish potential with a CSP. Let we go again! ๐ช
I opened $COIN VERTICAL 240524 PUT 185.0/PUT 190.0$ ,๐ช positive GEX and negative VEX around 195-197 levels, indicating a possible zone of support. Going in for a swing trade with this bull put spread.
I closed $CVNA 20240517 109.0 PUT$ ,๐ clocking our 41% credit profits over 3 days. Earlier entry thesis with the support zone at 110 has vanished after monitoring the option flows. Best to exit for the moment with some pocket $$$. There is a bunch of positive vanna from 105 - 110, which may indicate a short term price โattractionโ to that zone. Best be conservative for now! Ciao~ ๐
I closed $U 20240517 22.0 PUT$ ,๐ฐ booked a 25% credit profit over 3 days. Unity is experiencing a massive dip after mixed earnings results. Best to exit with a profit first as we look for retry to roll down our CSP. ๐ฆ
I closed $LI 20240517 29.5 CALL$ ,๐ clocking a 81% credit profit over 12 days. Will look to enter another covered call next few days. Stay tuned! ๐ช
I opened $VRT 20240524 91.0 PUT$ ,๐ once again, Vertiv is quickly becoming the darling of the market once again, with its shares soaring by 13.4% over the past month, dramatically outperforming the S&P 500โs modest 0.2% gain! This uptick comes even as its sector, Computers - IT Services, has seen a decline of 3.8%. Looking ahead, Vertiv is anticipated to report a significant earnings jump to $0.59 per share this quarter, marking a year-over-year increase of 28.3%. Financial projections across the board are also bullish with earnings projections expected to grow by 36.7% to $2.42 for the fiscal year, and by another 28.4% to $3.11 next year. Revenue forecasts are equally robust, with current quarter sales predicted to hi
I opened $ARM 20240517 115.0 CALL$ ,๐ trying to squeeze out more premium out of my ARM holdings. Wheeling again with a covered call. Keep those volatility coming.
I opened $LYFT 20240524 16.0 PUT$ ,๐ Lyft Inc. cruised past expectations in the first quarter of 2024! It delivered earnings of 15 cents per share, a notable rise from the anticipated 9 cents, and a robust year-over-year growth. The company's revenue hit $1,277.2 million, soaring above projections by over $100 million and marking a 27.6% increase, fueled by a 12% boost in active riders to 21.9 million. This performance underscores a vibrant expansion in the rideshare market, with gross bookings climbing 21% to $3.69 billion. Looking ahead, Lyft sets an optimistic course with Q2 gross bookings forecasted to range between $4.0 and $4.1 billion, representing a 16-19% year-over-year growth, and an adjusted EBITDA between $95
I opened $RBLX 20240517 30.0 PUT$ ,๐ the markets have the tendency in the past to overreact to RBLX. Sense that this could be the case again. Earning announcement could be better but the crash seemed like a knee-jerk. Trying to cash in on this short term. ๐ง
I opened $UBER 20240517 71.0 CALL$ ,๐ wheeling UBER with a near-term covered call. Near-term resistance at 69-70 level. Playing a bit more aggressive for this.
I closed $ARM 20240510 111.0 CALL$ ,โก๏ธ quick half-day scalp of 63% credit profit. โค๏ธ the volatility!
I opened $ARM 20240510 111.0 CALL$ ,๐ positive GEX at 108-110 levels at coming expiration. Decent resistance zone. Going in for a quick scalp
I closed $ARM 20240510 115.0 CALL$ ,๐ก securing 94% credit profit over 8 days. ARM wheeling is very juicy. Looking to wheel again on ARM.
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