🚗 RSI Reversal in DIS - More Inside

[] [The daily rundown of everything happening at Option Pit.]( [.]( MARK-et Open Griff here with the Chart of the Day. Time for a trip back to the Magic Kingdom … Disney announced firm plans to invest over $60 billion in its theme parks, resorts, and cruise business over the next decade and that is double their usual investment … The stock price also hit the put wall which is solid at $80 so I put out a simple Oct 20 82/83 call spread to all income hunters today … [ Notice the RSI reversal pattern, which is timely as SPX failed to reach the 4200 level which likely means we rally next week ... Let's Go! [ Trader's Edge: Check Out this Play in VIX The SPX opened up about 15 points on Wednesday…and then dropped like a stone. For those of us who have been around the block, it was the classic bear market that opened up and then dropped… But then at 2:15 ET the S&P rocketed higher. The move was impressive… [ Check that out. At the end of the day yesterday, I honestly had to admit…and Voz agreed…I have NO IDEA what would happen today. [But here’s what I do know…and I have a trade idea for you…]( - Mark Pit Report: QSR Breakdown Every analyst in the world is wondering about consumers. Are they running out of money or are they fine? One of the ways the consumer is judged is by fast food sales. When fast food sales are higher…the consumer is great. When sales are flailing…there are serious problems. This is because fast food is maybe one of the later industries to respond to a softening consumer. Let's face it…a meal at McDonald's only costs about 2x taco Tuesday…so if McDonald's sales are falling, the consumer is failing. Thus for this week I decided to focus NOT on McDonald's but on a competitor to see what is happening in the space. [Is this stock a buy or a sale? Here is your answer…]( - Griff AG's Views: The ETF the market loves to hate From the desk of Option Pit Director of Education Andrew Giovinazzi Mark the date, Oct 11, 2023. That is the date the 2x Long VIX futures ETF (Ticker: UVIX) splits in reverse. Very few products are as terrible as UVIX but that is the beauty of the product. It mostly goes down because it owns decaying assets as in VIX futures. It is also down 7.8% today as VIX cannot hold the bid of the last several days. Everything UVIX owns is rotting away. [ This is the last year of UVIX, and when it splits we can short it again via owning puts after the split. Isn't life grand! [Just check us out in the Trading Desk to see how to manage this.]( -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: Juice - The option trading floor slang for option premium, decay, theta, or other terms describing the extrinsic value of options. [( 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. Option Pit LLC is not responsible for any losses that may occur from transactions effected based upon information or analysis contained in the presented materials. Specific trading ideas or strategies discussed in the presentations or materials are entirely illustrative and do not constitute the solicitation of a transaction (or transactions) or a recommendation to execute a particular transaction or implement a particular trading strategy. DISCLAIMER: TRADE AT YOUR OWN RISK; TRADING INVOLVES RISK OF LOSS; SEEK PROFESSIONAL ADVICE. To the extent that you make use of the concepts with the presentation material, you are solely responsible for the applicable trading or investment decision. Trading activity, including options transactions, can involve the risk of loss, so use caution when entering any option transaction. You trade at your own risk, and it is recommended you consult with a financial advisor for investment, legal or tax advice relating to options transactions. Want to change how you receive these emails? You can [Unsubscribe]( or [Update your preferences]( This email was sent by support@optionpit.com. 1-888-872-3301 [Option Pit]( | 190 S LaSalle Suite 3000 Chicago, IL 60603 | [Privacy Policy]( This email was sent by support@optionpit.com to {EMAIL} Click here to unsubscribe | [Manage Preference]( Daily Newsletters ex. Vix Edge, Pit Report, Profit in Pumps, Power Moves, Power Income, etc. Option Pit | 190 S LaSalle Suite 3000 Chicago, IL 60603