🚗 The SPY was Relentless and Licia Made 800% in XSP

[] [The daily rundown of everything happening at Option Pit.]( [.]( MARK-et Open Griff here with the Chart of the Day. Another day of relentless longer-dated put buying in the major indices. The morning drop in the S&P 500 ETF (Ticker: SPY) took us right to its put wall (largest negative gamma strike), and the wall held strong … [ But after recovering right back to the day’s open, SPY failed again and retraced back down into the close. Licia made an awesome 0DTE XSP put buy into the close for an 800% gain in an hour! Big CPI day tomorrow … this number should set the trend into monthly expiry next Friday. It will also push the market into a specific setup that Andrew Giovinazzi is ready to use for profit. [Join him for free tonight at 7 p.m. ET to learn about this market setup and how you can take advantage of it.]( Let’s Go! [ [ - OPTION SHOPPER: XSP Aug9 449 puts closed for an 800% gain - POWER INCOME TRADER: RTX Sep22 87/88 call vertical spread closed for a 44% gain - TRADING DESK: XSP Aug14 449 put/452 call strangle closed for a 14% 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=) Trader's Edge: I’m Bullish Oil and Here’s Where VIX is Headed - Midweek Update It’s Mark Sebastian, back again for your Midweek Update. The market’s volatility has made for some exciting trading opportunities and I want to show you where my focus is for the rest of the week of trading. In today’s clip, I shared: - The upcoming CPI report tomorrow, and what I expect to see… - My earnings update on some of the Magnificent 7 stocks… - The rift and snap trades I am eyeing up… - Where I think VIX is headed next…and - My bullish outlook on oil. [Catch the Midweek Update right here to see it all:]( [17).gif]( - Mark Pit Report: HOOD Breakdown It’s been over a year since the meme stock rage hit the world. During 2021, we saw names like GameStop Corp (Ticker: GME), AMC Entertainment Holdings Inc (Ticker: AMC), and even Nokia Oyj (Ticker: NOK) blew higher. Now that craze has ended … but the platform the memers used to execute their trades lives on. That’s right – I am going to talk about Robinhood Markets Inc (Ticker: HOOD) this week. The stock is hanging around 12, but underneath, there are some trading aspects that make the stock very interesting. [Click here for my full breakdown.]( - Mark Power Income: Biden Doing a Terrible Job Trading Oil Biden has released more oil from the US strategic petroleum reserves to sell. Okay, so he released the oil and further weakened US national security, but at least it may lower the price of gasoline at the pumps and keep inflation from reigniting … right? No, wrong … he sold 50 million barrels of the black gold to China. So, instead of replenishing our reserves or approving more drilling and pipeline development to enhance our position as an energy exporter he is...? Selling it to our main geopolitical rival – China. Well, all we can do as traders is capitalize on our leaders' incompetence. [Today, we’ll look at an oil stock that is well positioned for a move higher.]( - Griff Profits In Pumps: BTCUSD Rally Bitcoin (Ticker: BTCUSD) has been pretty quiet lately...up until yesterday when it rallied $1000. Right off my support level which has held it for eight trading days: [ It is quite possible that BTCUSD is ready to rally from here. If it decides to test that recent high, that would take it back up to $31,500. [I have a great cheap way to ride this move.]( - Licia AG's Views: Will SPY Ever Selloff? From the desk of Option Pit Director of Education Andrew Giovinazzi Nvidia Inc (Ticker: NVDA) was down $20 at one point today when analysts didn’t like the new chip sets they released. A good part of the market going up was NVDA doubling revenues every year as it struggled to keep up with chip demand for AI. BOJ raises rates, Fitch dealers the USA unstable, NVDA disappoints investors, and the SPDR S&P 500 Trust (Ticker: SPY) is down ($10 in 10 days, just over 2%). Three good catalysts and it did not move the needle. Well, a little: [ VIX for its part jumped from low 13’s to near 18. But none of this indicates traders are worried about a bigger drop in VIX. If the CPI comes in close to expected, we might just erase that 2% selloff. VIX cannot break into Zone 3. That’s important for sentiment and why I think stocks go nowhere after a decent number tomorrow. We’re shifting into a specific market setup tomorrow, and that opens up the door for a wide range of profit opportunities. It’s all about knowing what to trade in a certain climate. [Catch me tonight as I teach on the CORE4 market setups. There’s still time to register for no cost!]( There’s still time to register! - 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: Strangle: A long call and long put in the same series, but at different strikes. The long strangle profits if the underlying makes a big enough move above the call strike or below the put strike. [( 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. 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