🚗QQQ Rebalances

[] [The daily rundown of everything happening at Option Pit.]( [.]( MARK-et Open Hey OP Crew, Griff here with the Chart of the Day. After a full 1% drop in headline inflation measured by the CPI, the Invesco QQQ Trust ETF (Ticker: QQQ) made a new high today: [ You’d think the CPI surprise would trigger a second leg of the FOMO rally, but hold on for a second … The Fed kept up its hawkish rhetoric – the market is still pricing a .25% hike in the Fed rate for the JUL26 meeting. So today’s rally may be short lived. This special rebalancing will open up tons of great trading opportunities. [Tune in tonight at 7 p.m. ET as Mark Sebastian breaks down exactly what traders can be doing with this rebalancing.]( The fun and profits never end … Let’s Go! [ - DELTA STRIKE: COTY Jul14 12.5 calls closed for a 104% gain - EASY BUTTON: XOP Jul21 120/134 strangle closed for a 66% gain - MAKE THE CALL: GM Aug18 40 call closed for a 53% gain - MAKE THE CALL: SOFI Aug18 8/9 call vertical spread closed for a 78% gain - OPTION SHOPPER: XOM Jul14 104 calls closed for a 84% gain - POWER INCOME TRADER: SIL Aug18 26/27 call vertical spread closed for a 94% gain - TRADING DESK: SPY Jul10 435/440 strangle closed for a 30% gain - WIN THE WEEK: ALLY Jul21 26.5/28 call vertical spread closed for a 35% 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: Can CPI Get the Market Rallying? The Option Pit VIX Traffic Light Is Red: Volatility is likely to slide. Today, CPI gets reported – outside of FOMC events, this has been the most important economic indicator for the market over the last year. This number seems to be a little bit more make-or-break than it might seem. We saw how the hot ADP number tanked the markets last week … even a subpar non-farm number couldn't get the market to rally. Ahead of this key number, what is the market looking for and how should you play it? [Click here for your answers.]( - Mark Power Income: CPI May Kickoff a Party Like 1999 All eyes are on the CPI report today after a surprise record plunge in used car prices were reported on Monday. Expectations for the number are already calling for a massive drop. Headline CPI is expected to drop from 4% to 3.1% with core expected to drop only .3 to 5%. If we get an even larger drop, the .25% rate hike fully priced in for the July 26 FOMC meeting will be in question. This CPI number can set the stage for a multiple week rally that may even rival 1999. [Today, we’ll take a closer look and create a roadmap for trading a bullish number.](- Griff Profits In Pumps: Crude Going Higher The August Crude Oil futures have busted out to the upside of the recent trading range and are looking to trade higher: [ In [Option Shopper](, we had a nice trade being long Exxon (Ticker: XOM) calls. I bought them on Friday and sold them on Tuesday for an 84% gain. XOM is still moving higher. I have a new energy stock I think has more room to run. [Click here to see which one it is and how high it’s going.]( - Licia AG's Views: 12 VIX Getting Closer From the desk of Option Pit Director of Education Andrew Giovinazzi 2023 has a lot of highlights with big moves, but I haven’t seen a close in the 12 handle for VIX at expiration. That would signal Zone 1 and an end to the COVID vol event that started 3 years earlier. [ Paper is getting interested in VIX puts, 13 and below. I do own some VIX Jul19 13 puts average price on this set .07. We could see a lower VIX, especially if the PPI number comes in as expected. Stocks rallying to 4500 SPX does not hurt either. - 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: P&L: Profit & Loss. [( 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. 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