🚗SPX Goes Wild

[] [The daily rundown of everything happening at Option Pit.]( [.]( MARK-et Open Hey OP Crew, Griff here with the Chart of the Day. Wild day for the S&P 500 Index (Ticker: SPX) as prices traded down early to major support at $4,100. Then at about noon, massive call buying came in while puts (blue line) went sideways: [ The call buying was massive as $2 billion plus of positive deltas traded. The option dealers that sold the calls scrambled to buy stock to hedge the negative deltas, and SPX almost made it back to the highs before closing up .45% on the day. [Join me tomorrow at 4 p.m. ET where I’ll run through the advantages you can gain by analyzing the real-time impact of option positioning.]( Let's Go! [ - POWER INCOME TRADER: SLV May19 23.5/23 put vertical spread closed for a 57% gain 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=) POWER INCOME SPECIAL REPORT: CPI Short Squeeze [( Today, the CPI number came out. What does it mean for you and your trading? Not to worry – I've got you covered. [Check out this exclusive video all about it.]( - Griff VIX Edge: More of the Same? The Option Pit VIX Traffic Light Is Yellow: Volatility is likely to move wildly. Monday was a super inside day, a nice change from the tumult of the previous week. The SPX closed down 18.95 points and had a tight range. The VIX closed up a touch, settling at 17.71. As we head into CPI and the balance of earnings, what lies ahead? More of this … or more of the first week of May? [Here is what I see and how I am trading it.]( - Mark Power Income: Banks Are About To Get Hit Again The Fed’s answer to the banking crisis? Hit em again … harder … and harder … It will be another ploy to force banks to buy more US Treasury securities. The Fed did it 2008 and will publish new ban-capital rules in the weeks ahead that will demand even more buying of Treasuries. These changes will have the greatest impact on the Global Systemically Important Banks (G-SIBs). This comes as a new report on bank lending standards was just released. Jerome Powell will not be happy with this report, especially after betting against recession. [Today, I’ll share the data and what’s ahead for the markets.]( - Griff Profits In Pumps: Time Premium Benjamin Franklin said, “Dost thou love life? Then do not squander time, for that is the stuff life is made of.” No one can deny Benjamin Franklin was a brilliant man, I love that he said stuff. Time is money, right? [ We know that with options trading, it’s called premium. [As options traders, I would highly recommend you spend your time attending Bill Griffo’s webinar on Thursday at 4 p.m. ET.]( You know Griff – our macro income trader, our Fed whisperer, the guy that can put it all together. He’s going to tell us the four catalysts that will signal a massive breakout trade and how to profit from it. He’ll reveal the big miss that proves inflation is here to stay. And what will be fueling the inflation fire this week. Plus a trade idea to take advantage of all this. I am telling you, you always learn something listening to our man Griff. [You can register for free right here.]( I know I will be there. It will be worth your precious time, I promise you. [Once you have secured your seat, I have a trade idea in Amazon (Ticker: AMZN).]( - Licia AG's Views: The Market Rallies On MAAA Again From the desk of Option Pit Director of Education Andrew Giovinazzi It’s funny that Meta Inc (Ticker: META), Amazon.com (Ticker: AMZN), Apple Inc (Ticker: AAPL), and Alphabet Inc (Ticker: GOOGL) can single handedly drive the SPX higher. Toss in Chipotle Inc (Ticker: CMG) for good measure, and there are big premiums going for big names that have slowing growth. The Invesco QQQ Trust (Ticker: QQQ) is up from $265 at the beginning of the year to $325 on pure multiple expansion. That’s nearly 25%!!!!!!! [ While I’m not sure how this ends, the rally is impressive. At this point, fading the rally is very hard. Maybe it’s time for 2 week QQQ strangles, as anything seems possible with this many dollars going into one place. - 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: Moving average: This is a moving indicator that smooths out prices over a period of time. A 50-day moving average would cover the average underlying price over the last 50 trading days. Moving averages can be simple (SMA) or exponential (EMA). [( 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. 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DISCLAIMER: TRADE AT YOUR OWN RISK; TRADING INVOLVES RISK OF LOSS; SEEK PROFESSIONAL ADVICE. To the extent that you make use of the concepts with the presentation material, you are solely responsible for the applicable trading or investment decision. Trading activity, including options transactions, can involve the risk of loss, so use caution when entering any option transaction. You trade at your own risk, and it is recommended you consult with a financial advisor for investment, legal or tax advice relating to options transactions. This email was sent by support@optionpit.com to {EMAIL} Click here to unsubscribe | [Manage Preference]( Daily Newsletters ex. Vix Edge, Pit Report, Profit in Pumps, Power Moves, Power Income, etc. Option Pit | 190 S LaSalle Suite 3000 Chicago, IL 60603