🚗A Venti Chart with Two Pumps of Profit

[] [The daily rundown of everything happening at Option Pit.]( [( MARK-et Open Hey OP Crew, Griff here with the Chart of the Day. Let’s start the week with a nice cup of coffee, as Starbucks likes to say … After Starbucks Corp (Ticker: SBUX) closed out Friday with what looks like a bullish morning star doji (Licia would know better). SBUX soared over 3% on good volume and closed just below the 100-day MA: [ It looks like SBUX was hit with an extra shot of espresso, and it could be headed to $105. Consider a bullish call spread on a pullback to $97.5 with a stop on a close below $96 and a target for $105. That trade could earn you a Profit Grande … Let’s Go! [ [ - POWER INCOME TRADER: AAPL Jul14 190/182.5/175 put butterfly closed for a 109% gain - WIN THE WEEK: QQQ Jul21 365/364 put vertical spread closed for a 67% 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: What to Trade in H2 2023 The Option Pit VIX Traffic Light Is Red: Volatility is likely to slide. We are now a week into the second half of 2023. The QQQ has taken off like a rocket ship – it’s pulled the S&P 500 to a nice return as well. Why? It's all the Magnificent 7: NVDA, AAPL, GOOGL/GOOG, AMZN, MSFT, TSLA, and META. But with those stocks having been piled into, is there still upside in the SPX and the QQQ … or has that ship sailed? I want to take a dive into where we are and where I think we are going in the second half of the year. I see a potential huge trade forming (ON TOP of the Gamma Bomb) … [Click here to see what will need to happen and what I’m going to do about it.]( - Mark Power Income: Stock Picks for Earnings Season Forecasts for Q2 earnings have been steadily increasing in the face of a bond market that warns of an impending recession. Check out the latest forecasts for S&P earnings: [ Consider this forecast against the highly respected Morgan Stanley analyst Mike Wilson … whose base case for S&P 500 earnings in 2023 is still $185. What gives? Well, in my opinion, the Fed has stashed so much excess cash in sectors of the financial system including: - Banks (Bank Reserves) - Money Market Funds (reverse repo) - The top 1% (high interest rates) That excess liquidity in the system may last a while longer, providing a solid base for another positive earnings season. [Today, we’ll take a look at companies reporting in the next few weeks and trades to consider.]( - Griff AG's Views: VIX Curve Goes in Flux From the desk of Option Pit Director of Education Andrew Giovinazzi Lately, we’ve had a shift in VIX where the steeper contango is going away as VIX cash rises into earnings season. SPX is down about 40 points in 3 sessions, but VIX has held up. Normally as the VIX curve flattens, that signals a larger move in VIX either way. As of right now I am leaning towards lower VIX. [ As I see it now, VIX should be drifting lower into earnings. My guess is that traders are uncertain after the hotter jobs numbers last week. The reality is that stocks don’t sell off. If they don’t sell off, VIX rallies are hard to hold. The CPI number on Wednesday should give VIX and SPX a move one way or the other. - 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: Diagonal spread: Calendar spread where the expiration dates are different and the strikes are different. Diagonal spreads can be long the ITM back-month and short the OTM front-month, or vice versa. [( 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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