🚗Time To Put AAPL To Bed?

[] [The daily rundown of everything happening at Option Pit.]( [.]( MARK-et Open Hey OP Crew, Grif here with the Chart of the Day. Apple Inc. (Ticker: AAPL) is looking tired … This Friday, 26% of its call heavy open interest is expiring. This means option dealers will lose their short call positions and will be forced to sell their long stock hedges. We should see a pull back in AAPL a couple of days before or after Friday. Notice in the daily chart below a reversal pattern has formed as prices made new highs over the past couple of weeks but the relative strength Index (RSI) was only able to make lower highs. This is a powerful signal that a pullback is coming and the timing with OpEx is ideal for executing a put spread or put fly in the next couple of days: [ One more rise to the largest open interest call strike (Call Wall) at $175 would be a great time to set up the trade. Let's Go! [ [ - BIG MONEY FLOW: EOLS Jun16 10 calls closed for a 77% gain - NITRO TRADER: AAPL, GOOGL Jul21 165/150/140 put butterfly, 110 calls closed for a 14% 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=) VIX Edge: Bulletproof S&P? The Option Pit VIX Traffic Light Is Yellow: Volatility is likely to move wildly. On Friday the S&P 500, yet again, tried to sell off. But to no avail – the index ended the day near the highs closing down 6.54 points to 4124.08. VIX closed flat, finishing at 17.03. Right now it might seem like the S&P 500 is bulletproof. It might seem destined to make its next leg higher. But is it? [Click here to find out.]( - Mark Power Income: Urgency for a Fed Pivot to QE Rises The Treasury Borrowing Advisory Committee (TBAC) report was released last week for Q2 of the 2023 fiscal year. This TBAC report is a critical signpost for markets, because it reveals how close the US is to a debt crisis. The bottom line message is this; the government will need either: - Explicit Fed QE - Treasury buyback liquidity, or - A much weaker USD To avoid what is already an acute debt crisis into becoming a global market disaster in the coming quarters. [Today, I’ll share the data and how to position to profit from this train wreck.]( - Griff AG's Views: In A Post-Fed World From the desk of Option Pit Director of Education Andrew Giovinazzi Stocks can’t get out of their own way since they got used to the Fed propping them up everytime something bad might happen. This has been going on since 2008. Even the Invesco QQQ Trust (Ticker: QQQ) can’t keep it going. One place that might be interesting is retail. Mark and I noticed retail popping, and an end to Fed rate hikes might give retailers a pop. Look at Macy’s Inc (Ticker: M): [ Big Money Flow into Jun02 cycle Call buyers jumped into the M Jun02 15.5 calls and sold the Jun02 12.50 puts. Someone thinks earnings are going to be good. A retail revival could just happen if this is the last rate rise. M is still a decent value here. - 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: Index: The cash value of a group of securities, like the Dow or S&P 500. It is usually quoted as a price but trades via futures and settled to cash. [( 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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