🚗An Unlucky Friday the 13th for the QQQs

[] [The daily rundown of everything happening at Option Pit.]( [.]( MARK-et Open Griff here with your Chart of the Day. The QQQs finally Lose … Once the QQQs opened below the call wall and traded down through the Vol Trigger there was no looking back. You expect the market to close near the lows, which it did. [ A likely result on Friday the 13th, with all the fear that built up this week as the middle east suffers. Hopefully over the weekend saner minds prevail and fighting subsides. Have a great weekend everyone. Let’s Go! [ Trader's Edge: What to Do About Exploding Volatility – Week-in-Review Happy Friday everyone – I’m here with your Week-in-Review. This week – primarily yesterday and today – we saw the VIX explode. It touched out today at 20.78. With so much going on in the market, how do we trade it? Well that’s what I’m here to tell you today. So [click here]( to watch today’s video. - Mark [( Pit Report: Let’s Talk About Trading DVN Energy – it was so hot in 2022. In 2023? Not so much. Names like XOM and CVX are still up year over year, but ON the year they’re essentially flat. So far, 2023 has been a lost year to energy names. But, there is a war between Israel and Hamas. There are sanctions and production cuts – a whole host of reasons to say ... “Oil is going higher” Today we are going to break down a surprisingly popular name among my traders here at Option Pit. Is it time to go long energy? Is it time to go long DVN? [Let's break it down.]( - Mark Profits In Pumps: Quite the Reversal That was quite the reversal. Just when everything was starting to look nice and bullish … bam! There were no bond buyers. Griff can explain that better than I can. [You can read his take here.]( So the market had a nice, pretty hard, selloff. Here is the five minute chart in S&P 500 (Ticker: SPX): [ That was straight down for 95 minutes. Until the buyers stepped in. And guess what level that was, check it out: [ Back to the neckline. Remember, old support is new resistance and old resistance is now new support. [So where to now? Continue here and I will show you.]( - Licia AG's Views: The Power of Vol of Vol From the desk of Option Pit Director of Education Andrew Giovinazzi A UVIX update! UVIX was up $8 today to close near $40. SPX barely moved. This is the definition of weekend event risk. That risk being in the Middle East and possibly spreading around. My UVIX puts from the [Trading Desk](? Unchanged on the day with implied vol up 60 points! If UVIX is back to $29 on Monday, down $10, those puts will be $2.25. [ The power of vol in action. - 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: Backwardation: The condition in a spread where the front-month value is higher than the back-month value. [( 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