🚗Warnings from the Regional Banks

[] [The daily rundown of everything happening at Option Pit.]( [( MARK-et Open Hey OP Crew, Griff here with the Chart of the Day. The past couple of days have seen strong positive delta flows into SPX. It’s pretty amazing performance when you consider warning signs coming from the regional bank stocks. The SPDR S&P Regional Bank ETF (Ticker: KRE) is down nearly 10% over the past week. Notice the break below the 50-day MA on good volume plus the break below strong horizontal support at $41. [ The Put Wall just dropped down to $40 this week. We’d have to hold it and retake the 50-day MA to believe the correction is over. The battle is on … does the FOMO rally regain momentum, or will the regional bank problems wake up the bears? Let’s Go! [ [ - POWER INCOME TRADER: MARA Jun30 12/11 put vertical spread closed for a 28% gain - POWER INCOME TRADER: MSFT Jun23 342.5/340 put vertical spread closed for an 83% gain - POWER INCOME TRADER: QQQ Jun30 366/367 call vertical spread closed for a 20% 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=) Pit Report: MA Breakdown There’s a big question on many people's minds – “is the US heading toward a recession?” If the answer is yes, there are stocks that will actually perform admirably in that type of environment. If the answer is no, there’s a whole host of other stocks that will perform. At the crux of all of the questions is payments. The payment processors will directly be hurt or benefit from a recession. [With that in mind, let's take a hard look at one of the most popular credit card companies.]( - Mark AG's Views: UVXY Set to Reverse Split Again From the desk of Option Pit Director of Education Andrew Giovinazzi $70k to $2.00! How can you not love an instrument that is so reliably crappy than the ProShares Ultra VIX Short Term Futures ETF (Ticker: UVXY). UVXY just keeps reverse splitting to form the living embodiment of an asymptotic line. It’ll get close to $0 but never reach because eventually, it will split again. Such is the life of a product that owns VIX futures continuously. [ Lifetime UVXY chart For a brief moment in time, UVXY went to $1400, split adjusted, when the VIX futures traded in the 80s during COVID. Traders with no historical perspective keep thinking it will happen again. [ 5 year UVXY chart I’m sure it will – just not today. Check out trading ideas for UVXY in the [Trading Desk]( next week as it starts its steady descent back to $2. - 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: Reverse Split: A consolidation that reduces the overall number of shares while proportionally increasing their value. [( 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. 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