🚗Time for a Breather?

[] [The daily rundown of everything happening at Option Pit.]( [.]( MARK-et Open Hey OP Crew, Griff here with the Chart of the Day. A benign CPI report triggered another rally on Wall Street, as core CPI fell to 5.3% while headline plummeted to 4%. The incredible rally we have seen in tech continues with 12 out of the last 14 weeks have been green candles. [ I think it’s time for a breather – Jerome Powell cannot be happy with this ferocious rally. He may not raise rates tomorrow – the market is only giving an 8% chance of one – but he can talk about being ready to tighten beyond June. I put on a QQQ put butterfly and a put spread today in anticipation of a pullback into next week. Bring it on, J-Pow … Let’s Go! [ [ - BIG MONEY FLOW: CCJ Jun30 31 calls closed for a 83% 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: VIX and SPX Both Up The Option Pit VIX Traffic Light Is Red: Volatility is likely to slide. On the day the S&P 500 was up .93%, over 40 points. The VIX closed up settling at 14.83. What is going on here? Shouldn't the VIX fall when the market rallies? Usually yes. So when it doesn't, that’s a sign that traders need to pay attention. [Here is what you should pay attention to and how to take advantage of the VIX rallying with SPX.]( - Mark AG's Views: The Most Important Chart of the Day From the desk of Option Pit Director of Education Andrew Giovinazzi No offense to Griff up top … but this time, I’ve got my own Chart of the Day! The iPath Series B S&P 500 VIX Short Term Futures ETN (Ticker: VXX) got a new lease on life into the CPI number and the Fed Rate News this Wednesday. When VXX is not dropping, like it does most of the time, that means VIX futures are relatively flat. VXX owns VIX futures. [ 30 day VXX chart Traders were content to let the VIX futures freefall over the last 4 weeks as big tech AI earnings wooed everyone. The question is will anyone want to pay $17 for VIX futures in Jul if VIX drops to the low 13’s again. Not seeing what holds the VIX futures up tomorrow. I own some VXX puts in [Trading Desk]( and [OP Mentoring](. Let’s see if the bid for VIX evaporates. - 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: Relative Strength Index (RSI): An indicator where a reading above 70 suggests the underlying is overbought, and a reading below 30 suggests it’s oversold. [( 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. Want to change how you receive these emails? You can [Unsubscribe]( or [Update your preferences]( This email was sent by support@optionpit.com. 1-888-872-3301 [Option Pit]( | 190 S LaSalle Suite 3000 Chicago, IL 60603 | [Privacy Policy]( 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