🚗Next-Level Trading

[] [The daily rundown of everything happening at Option Pit.]( [.]( MARK-et Open Hey OP Crew, It’s been a busy day here at Option Pit. The markets were closed yesterday for Memorial Day, so we jumped right back into the madness today. There was some real interesting movement in the QQQ’s – more on that below. Anyway, I’m making the final preparations for tonight’s big event: [The Missing Pieces](. I’ll be breaking down the five key steps to become a better trader. And I promise, you’ll be able to see a change immediately. Even if you’re an experienced trader like me, there’s always room to learn and grow. [So register for free right here.]( And I’ll see you at 7 p.m. ET! Let’s Go! [ [ - BIG MONEY FLOW: ETRN Oct20 6 calls closed for a 292% gain - POWER INCOME TRADER: INTC Jun16 28.5/29 call vertical spread closed for a 97% gain - WIN THE WEEK: SPY 2/6/4 Jun02 420/413/406 put butterfly closed for a 88% 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=) Chart of the Day Change is in the air today as the Invesco QQQ Trust ETF (Ticker: QQQ) closed back below its $350 Call Wall, which is the largest net positive gamma strike for all QQQ strikes. The call wall and absolute gamma strike (the largest total gamma strike) are at 350, so we may hang around and consolidate down to the 345 strike in the next couple of days: [ I purchased a JUN09 350/343/336 1/3/2 put fly today for .05 credit. I also closed a SPY 1/3/2 420/413/406 Put Fly today for a nice gain. When you hit the call walls in a positive gamma environment, the 1/3/2 put flies are high probability low risk/high reward trades. - Griff AG's Views: VIX Likes the Debt Ceiling Talks From the desk of Option Pit Director of Education Andrew Giovinazzi Nvidia Corp (Ticker: NVDA) knows no bounds currently as apparently, they’re the only company to supply chips for the new AI arms race. I have a feeling someone will come along, just not today. To the extent the rip in the Invesco QQQ Trust (Ticker: QQQ) is for real, and the rest of the market can participate, VIX should start to drift lower. [ VIX was on its way to sub-17 this morning, only to get derailed by the change in momentum in the SPDR S&P 500 Trust (Ticker: SPY). Big Tech is not giving up the rally anytime soon, and VIX can’t really rally if SPX is unchanged on the day. I still like cheap 16 level puts in VIX for the Jun cycle. - 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: Delta: An option “Greek” that shows the anticipated change in the option price for a $1 move in the underlying. Also thought of as a hedge ratio for the option, or the percentage chance the option will finish in the money if the volatility stays constant. [( 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. DISCLAIMER: OPTION PIT LLC IS NOT AN INVESTMENT ADVISOR OR REGISTERED BROKER. Option Pit LLC is not responsible for any losses that may occur from transactions effected based upon information or analysis contained in the presented materials. Specific trading ideas or strategies discussed in the presentations or materials are entirely illustrative and do not constitute the solicitation of a transaction (or transactions) or a recommendation to execute a particular transaction or implement a particular trading strategy. 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. 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