[] [( [Trade the Close]( MARK-et Open Hey OP Crew, Bill Griffo here with the Chart of the Day. Today, I want to share the gold sentiment chart SPDR Gold Trust (GLD), which tells me we’re in for a correction next week. Why? Check out the chart below. The red line represents hedge funds buying GLD, while the blue line is banks selling. [ Remember, banks created paper gold to short into the market on behalf of the Fed/Treasury as a way to help lift the dollar. When they are this short, banks attack physical gold to keep it doing things like breaking above $2,000/oz. (That’s on orders from the Fed and Treasury – because when gold goes down, the dollar goes up, which is something J-Pow and Janet desperately need right now.) We may test the $1,900 to $1,925 area before a new move higher. [See how I plan to profit in my Win the Week service – and receive six months of Power Income Trader as a bonus.]( Markets are closed for the long weekend. [ [ - NITRO TRADER: JWN April 21/March 17 15 put calendars closed for a 74% gain.Bullet Point #2 Want to find YOUR winning fit? Give our Customer Care Team a call at 1-888-8772-3301 Monday-Friday from 9 a.m.-5 p.m. EST. Or email them anytime at [support@optionpit.com](mailto:support@optionpit.com?subject=) Pit Report: CVNA Chart Analysis Licia Leslie stepping into the Pit Report today. Carvana (Ticker: CVNA) is all about making buying a car easy. You can find the right car online, and then receive it from a literal car vending machine. They even give you a big coin to put in it! And it seems like trading CVNA might be pretty easy, as well. Let’s take a look at the chart. [Click here for my full analysis.]( - Licia AG's Views: Lincoln Financial Corp Bringing in the Put Buyers From the desk of Option Pit Director of Education Andrew Giovinazzi Lincoln Financial Corp (Ticker: LNC) brought in the put buyers today out in the May cycle. Apparently, the move from $70 last year to $20 was not enough and the trader bought LNC May 19 17.5 puts for .91 average price today. In the Big Money Flow room, one of my members said LNC took a big write-down last year for low-interest rate bonds. The put buy coming into the FOMC and CPI number is curious. How much more down does LNC have? [ The write-down was two years of earnings in what is a pretty steady business. A trader is either hedging stock purchases or waiting for a dividend cut. $17.5 is a worry area. - AG OPTION PIT GLOSSARY [( There are plenty of terms in the trading world that need defining. The [Option Pit Glossary]( is here to help. Today's phrase is: Iron Butterfly: A long strangle and short straddle in an option class. For instance, the trader could sell to open the XYZ April 50 call and put, and buy to open the April 40 and 50 calls. The ratio is 1:1:1. [( DISCLAIMER: FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. The materials presented from Option Pit LLC are for your informational and educational purposes only. Neither Option Pit LLC nor its employees offer investment, legal or tax advice of any kind, and the analysis displayed with various tools does not constitute investment, legal or tax advice and should not be interpreted as such. Using the data and analysis contained in the materials for reasons other than the informational and educational purposes intended is at the user’s own risk.
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