🚗Welcome to Choptober

[] [The daily rundown of everything happening at Option Pit.]( [.]( MARK-et Open Hey OP Crew, Griff here with your Chart of the Day. Welcome to October — the choppiest month of the year as traders swing from a historical market collapse to a ramp up into the year-end. Once again the Invesco QQQ Trust ETF (Ticker: QQQ) and the S&P 500 Index ETF (Ticker: SPX) did their own thing led by the Mag-7 while the rest of the market sold off. The QQQs did have a mid-day meltdown as the 30-year bond auction revealed a lack of buyers. Tomorrow's end of week close will give us an idea on what to look for next week … Overall, this week’s QQQ price action reveals a bullish pattern: [ Let's Go! [ Trader's Edge: Why the Market Dropped Like a Stone This Afternoon Mark Sebastian here with an emergency video update. CPI and PPI came in a little high, and this morning, the markets didn’t seem to care at all. But then around 1 p.m. ET … the markets suddenly woke up and started selling like crazy. Just what the heck happened?? Well, I’m here today to answer that question. So [click here]( to watch today’s video. - Mark [( AG's Views: Did You Miss the Trade of the Year? From the desk of Option Pit Director of Education Andrew Giovinazzi The folks who jumped into the Trading Desk special got a taste of the oddness that is the VolShares 2x Long VIX Futures ETF (Ticker: UVIX). Will this be the only chance to trade it? I doubt it … but it was a good one. Day 1 of the trading post-split has the juices flowing out of volatility by midday. Most of that volume was from Trading Desk subscribers. Now, we did hedge this trade so I can keep the puts going for the duration of contracts. [All Trading Desk subscribers]( will get to see how to trade, hedge, and manage the position. [ Two things to note: - UVIX has had a $34 to $29 range just since the split, with implied volatility at the very bottom of the range - Mark Sebastian bought the puts .05 better than me and I will have to hear about it until Nov 17th. Let me emphasize again: [this is the trade of the year](. And we’re not quite done yet. This is not something you want to miss – so [join me and Mark in the Trading Desk]( before 11 a.m. ET tomorrow and take advantage of this massive profit opportunity. - 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: Forward volatility: The interpolated volatility (or implied volatility) of a stock or option, reflected in the option’s price. Also the effective volatility of a back month option in a time spread governed by this formula SQRT((T2*V2^2-T1*V1^2)/(T2-T1) [( 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