🚗DVN Is Flying – Keep Eyes on Energy

[] [The daily rundown of everything happening at Option Pit.]( [.]( MARK-et Open Hey OP Crew, Griff here with your Chart of the Day. The Option Pit ticker of last week, Devon Energy (Ticker: DVN) has been flying … up 16% since the Oct-06 42.59 low. It flew past the 50-day MA today on good volume. With momentum building, the next target is the 200-day MA and then the recent highs at $54. [ Let's Go! [ [ - OPTION SHOPPER: SMH Oct20 150/145 put vertical closed for 41% 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: A Rebounding Russell and Major Earnings - Weekly Market Outlook Mark Sebastian here with your Weekly Market Outlook. What a start to the day and the week! I laid out on Friday that if there were no major events this weekend, the market would start to rebound. And lo and behold … I was right. But that’s not the only prediction I made on Friday that came true. In today’s video, I break down: - My predictions from Friday - VIX and UVIX levels - What we could see after major earnings in banks and EVs So [click here]( to watch: [ Oh, and one more thing – be sure to sign up for [my and Andrew Giovinazzi’s special class]( this Saturday at 9:30 a.m. ET, where we’ll be breaking down the engine that powers all of our Option Pit trades. It’s a great tool we use to build our trades quickly and efficiently. Sign up now and you’ll get a special indicator we’ve built for ThinkorSwim, as well as our exclusive OP66 Watchlist. [Click here to get your ticket – we’ve only got 200 seats available.]( - Mark Power Income: The Gold Rush of 2023 The world is going through more changes since the start of the 2020s decade than it has in the past 8 decades combined including: - World war (Covid) - Global debt crisis - New global monetary system - Deglobalization - Energy Crisis - New world order We can track the events that ignited this massive change to 2008 … This is because when 0% interest rates could no longer lift an economy up ... So, Quantitative easing (QE) was invented ... Now QE built a foundation for inflation but that inflation stayed within the global financial system ... Until now, that is ... [Click here to read more…]( - Griff AG's Views: UVIX Up 27%, Then Down 15% From the desk of Option Pit Director of Education Andrew Giovinazzi It’s been a while since I’ve seen a full volatility rally without any real underlying movement. But here we are with SPX back to the highs of last week with VIX a full 2 points higher. What did that mean for my VolShares 2x VIX Futures ETF (Ticker: UVIX) idea in [Trading Desk](? After topping out at $2.40 on Thursday, VIX futures went on a rampage and jumped to the low 20’s. That leverage caused UVIX Implied Volatility to skyrocket from 140% to 240%. [ The UVIX Nov17 25 puts mostly stayed in a range of $1.40 to $1.8 all during that jump. In this case the power of vega, the options sensitivity to volatility, was way more important than just the delta. As crazy as it sounds, UVIX could be $28 by the end of this week. [ UVIX is living up to its reputation as a wild child of volatility. - 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: Delta: An option “Greek” that shows the anticipated change in the option price for a $1 move in the underlying. Also thought of as a hedge ratio for the option, or the percentage chance the option will finish in the money if the volatility stays constant. [( 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. 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