🚗China Smacks AAPL and NVDA

[] [The daily rundown of everything happening at Option Pit.]( [.]( MARK-et Open Hey OP Crew, Traders did not like the PMI or the news that China was discontinuing the iPhone use to PRC workers. Some traders thought this was the next leg of the tech war. Tesla Inc (Ticker: TSLA) was soft on the news as well. When the big daddy stocks drop, the market gets itchy. Oil stocks didn’t make up for the drop in tech, so SPX finished under 4500. Vol Man here with my weekly analysis. As usual, I will start with last week’s forecast… Last week: “I think we see a flat VIX next week with little movement for stocks. News is always a catalyst but short vol products via puts and short SPX with puts in the Oct cycle is probably the best trade setup of the year. Pod 1/ Pod 4 is the place to learn how to set up these trades.” Overall, it was a mildly bumpy week, but a real fall from grace and 4500 early on in the short week. Wednesday and Thursday were good exits for me on my SPY puts in a few of my services. I just closed all my puts and traded my weekly outlook. I did leave a few VIX calls I own for credits in the Sep cycle, but those look like they will go out worthless. VIX Sep20 20 puts only saw a .35 peak price, so no real VIX fireworks. There were no real positive news catalysts, and with Apple Inc (Ticker: AAPL) down for the week, that sentiment stayed soft. [ SPX daily price action over the last 30 days [ SPX sigma levels over the last 30 days. Last week we saw sigmas oversold and it ended up being correct and we took advantage of it in our OP products. This week those vol levels got back up for the most part, just hovering at slightly higher prices. Realized vol is 10% in SPX. Sigmas are around fair now that they adjusted upward. [ VIX cash closed higher into the weekend which is no surprise after last week's three day weekend. But I noticed that long term VIX futures were lower with VIX cash higher. This might be slow acceptance of interest rates peaking. [ Closing VIX curve, Sep 08, 2023 [ Closing VIX curve, Sep 01, 2023 VIX jumped on news which is normal, and the VIX curve settled into a normal contango. That’s usually bearish VIX. [ VIX 30 day chart with 1 min candles Traders held VIX up a bit into the end of the week as the early VIX rally pretty much failed. With lower realized volatility, VIX likely drops to the 12s next week as a quiet news week. No earnings and little catalyst will beat down IV as the Liquidity Providers get ahead of the option sellers. SPX still wanted to rally after the China news, so 4500 once again is the target. Let’s Go! [/campaigns/org775804783/sitesapi/files/images/774695510/ag (2).png] Trader's Edge: Top 5 (Plus 4 More) Stocks on my Radar - Video Watchlist Hope your weekend is going well. I’ve got your Video Watchlist ready for this coming week. I have a list of 5 tickers, plus I couldn’t help myself, so there are 4 more that I added to the list. [Click to watch which stocks I like and why…]( [Then check out this inspiring interview with my friend, Josh Hawes.]( - Mark [( Pit Report: Take a Bite Out of CHWY I don't know about you, but Chewy Inc (Ticker: CHWY) boxes are all over Maine. The company recently reported earnings and the traders did not like the news very much. CHWY dropped after earnings to a recent low of around $22.5. I’m used to post-earnings drops in implied vol, but CHWY was impressive. I had to check the sigmas to make sure it was right: [ [If you’re in Pro Pod 1, you would learn that sigma is the IV of the term.]( Despite the dropoff post-earnings, there’s still an opportunity here. [Click here for my full vol analysis.]( - AG Power Income: The Windows of Opportunity Consistently stacking profits in your brokerage account takes impeccable timing and no doubt that entails a little bit of luck. However, seasonal factors impacting the various asset classes goes a long way in presenting the “windows of opportunity” that are repeated year after year. We are entering a period where the seasonal factors are extremely powerful. This was a topic of discussion at the [Option Speaker Series]([event]( this past Wednesday. Cem Karsan and Mark Sebastian discussed events shaping markets in the months ahead – exact dates were mentioned that could cause major shifts in trends. [Check out the replay if you have not seen this insightful interview.]( [Today, I’ll share a couple of my favorite opposing bullish and bearish seasonal trends that offer excellent high probability profit opportunities ahead.]( - Griff Profits In Pumps: Rifts and Snaps I hope you’re enjoying this fine Sunday. Looking ahead to the trading week, Option Pit has a live event on Wednesday at 7:00 ET. [Get this on your calendar right now.]( You may already be familiar with Mark’s Rifts and Snaps strategy. It’s super cool. He plays on the correlation of two stocks and formulates an option strategy to take advantage of the rift or the snap. Here is an example: [ That’s all I can show you here. During the event, Mark is going to share a list of the next three months of rifts and snaps he sees developing in individual stocks. He also has what he calls “Mega Rifts” which are index pairs that carry an even higher profit potential. Mark is really good at this, so you will want to be there – [Wednesday, September 13, at 7 p.m. ET!]( [On to the trade idea.]( - Licia 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: Exchange-traded note (ETN): An exchange-traded, unsecured financial instrument that tracks other indexes or products. [( DISCLAIMER: FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. 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