🚗The Heavy Gamma Strikes Back

[] [The daily rundown of everything happening at Option Pit.]( [.]( MARK-et Open Hey OP Crew, Griff here with the Chart of the Day. It’s been a great run for trades that lean on the heavy gamma strikes. I think we have a candidate for tomorrow also … Check out today’s option flow chart for the iShares Russell 2000 ETF (Ticker: IWM). Once again, a stock breaches the call wall but just traded sideways the rest of the day. [ The option flow ended the day with negative deltas – the probabilities favor consolidation or a correction back down. If IWM opens higher tomorrow, consider taking a shot with a simple put spread or a put fly into June 16. I closed two more Option Flow trades today: a put spread in Netflix Inc. (Ticker: NFLX) and a call spread in PayPal Holdings (Ticker: PYPL). I sold NFLX when it breached the call wall and bought PYPL right at the put wall for 65% and 77% returns respectively. Plus two others for 36% and 12% returns. Safe to say … I had a pretty good day. Let’s Go! [ [ - BIG MONEY FLOW: X Jul21 21 calls closed for a 53% gain - POWER INCOME TRADER: NFLX Jun09 407.5/405 put vertical spread closed for a 65% gain - POWER INCOME TRADER: PYPL Jun16 64/65 call vertical spread closed for a 77% gain - POWER INCOME TRADER: SPY Jun09 426/425 put vertical spread closed for a 36% gain - POWER INCOME TRADER: QQQ 2/6/4 Jun09 352/344/336 put butterfly closed for a 12% gain - WIN THE WEEK: BIDU Jun16 136/140 call verticals spread closed for a 47% 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: Someone Took a Bite of AAPL The Option Pit VIX Traffic Light Is Red: Volatility is likely to slide. On Monday, the VIX closed up .13 points, coming off a down weekend. Makes some sense – the range of the S&P 500 was about 32 points, so not exactly a crazy day. But, then there was Apple Inc. (Ticker: AAPL) … AAPL took the market from likely melting up to down on the day. This is the world's largest company, and it was at an all time high. It had a 5 dollar swing. Is this just a one off? Or is this the beginning of an overdue pull back? [Click here for your answer.]( - Mark AG's Views: VIX Trades the 13 Handle! From the desk of Option Pit Director of Education Andrew Giovinazzi Not long ago, a Fed Meeting and CPI number would push VIX to the 20s. Not so much anymore. The Fed will “skip” and inflation seems to be slowing down. So what’s the biggest factor pushing VIX lower? [ I think it’s Uncle Sam pulling back via the Fed or other extraordinary spending measure. If you have been following me for a few weeks, you would be taking VIX put profits by now. 12 VIX here we come! - 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: Put fly: Shorthand for a put butterfly. The trader is long 1 put, short 2 puts, and long 1 put, with the distance between strikes being equal. Long put flies are taken for debit, and short put flies are taken for a credit. [( 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. 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