🚗Bonds and the Dollar Goin’ Up!

[] [The daily rundown of everything happening at Option Pit.]( [.]( MARK-et Open Hey OP Crew, Griff here with your Chart of the Day. The failure yesterday at the SPX 4,400 turned into a rout today as bond yields and the dollar traded higher, which sent stocks lower. Bond yields made anew and the iShares 25+ Maturity Bond ETF (Ticker: TLT) made a new low. They both completed RSI reversal however and the $13 billion 20-year bond auction was received well. So, we’ll see if bonds can muster up a bounce from here. [ For Win the Week yesterday, we purchased a Oct 24 QQQ put butterfly, which is +70%. Against that, today we bought a simple TLT Oct 27 85/85.5 call spread for $.17, which pairs up well with the QQQ put fly. In Power Income Trader, we purchased a Oct24 SPY 434/433 put spread at $.25 and closed half the trade for a 105% gain. We’ll let the rest ride for a potential max 300% gain. Let’s Go! [ Trader's Edge: This Week Is As Interesting As It Gets - Midweek Update It’s Wednesday, which means it’s time for my Midweek Update. It doesn't get more interesting than this week, to be honest ... and that makes me excited about trading. I'm gearing up for my and Andrew's class this Saturday where we break down our engine and give you a free indicator and how to use it ... and how we use it to find cheap options. [Click here to secure your seat before we run out of spots!]( Here's what you'll see in my video: - A quick look at what we did in Trading Desk and Trade to Close - and what we went long on... - How we did a 100% winner and a 50% loser and how that works - and how we like to trade. - Update on the VIX and the complimentary plays - What I'm looking for the rest of the week... get ahead of the game with some free outlooks. So [click here]( to watch today’s outlook. - Mark [( Pit Report: GLD Breakdown To say that 2023 has been an up and down year might be an understatement. We’ve had a mini-financial crisis and a huge run up in the Magnificent 7. We’ve seen the 10 year note approach 5% yield and the VIX break 20. All told, relative to the bulk of 2022, this year has been volatile. No, nothing like 2020 or 2021, but volatile nonetheless. When markets are crazy, there’s an asset class that almost always gets a big buzz. Sometimes that asset class responds, other times … not so much. What is this asset, and should you buy it under the current conditions? Well it’s GLD because of the subject line. But what I know about my subscribers is that you tend to peek in the window of gold or hold it as a hedge… Let’s talk about the yellow stone that makes people go crazy. [Read on to find out.]( - Mark Power Income: Is the Boom in AI About to Go Bust? What goes up must come down … It just seems, these days the round trip happens much faster than it used to. Now, it looks like now the AI boom may be on the verge of a bust … Today, US officials confirmed that exports of Nvidia Corp’s (Ticker: NVDA) made-for-China chips will be restricted for sale to China … The stock tanked 8% and came back a bit but still ended up -5% on the day … [Today, we’ll take a closer look at how dire the situation may be for NVDA in the weeks ahead.]( - Griff Profits In Pumps: Join the Breakfast Club - Saturday Remember The Breakfast Club movie? It was actually filmed in the next suburb over, here in the Chicago suburbs, at New Trier High School. What a great movie. We can all relate to those high school days and remember the people we knew with those personalities. Every school had them. They were forced together to serve detention on a Saturday morning. Not that I was an angel, but I never had a detention. This Saturday morning won’t be a detention but a REAL CLASS held by Mark Sebastian and Andrew Giovinazzi. After the two hour class held at 9:30-11:30 ET, you will be able to: - Evaluate HOW GOOD your trade is BEFORE placing it - Know HOW LONG to stay in trades - ​Understand how much options DECAY before they move - ​Find options with the EASIEST chance to pay based on market conditions - And you’ll be able to do it all on ANY ticker Mark and Andrew will be presenting you with a very special scanner created just for Option Pit for free… a free scan that they use to start finding trades. And they go over it with you and give it to you. You will learn how to use it to discover profitable trades and you will be able to keep it for future use. On top of the scanner, they will share with you the top 66 stocks ripe for trading right now and the engine that runs our Option Pit trades. . AND once you secure your seat, there are only 200, you will be sent a worksheet before class starts. [You better sign up now, as the limited number of seats are going fast.]( [Go here for a new trade idea.]( - Licia AG's Views: Once Again, VIX Vol Closes at the Daily Peak From the desk of Option Pit Director of Education Andrew Giovinazzi Not sure how today was different from yesterday, but VIX implied vols are closing at a peak and contracts are very active. There are several issues in the air – Gaza strip, oil supplies, spiking interest rates, and no one wants to run the US House of Representatives. There’s lots of uncertainty. [ VIX Nov15 20 IVs jump over 100% In general, big vol means a big move … but I’m not sure what that will be. J-Pow brings a speech tomorrow at 2pm that might help clarify things, but for now the open in the am looks rocky. [Pricing moves is our hot topic on Saturday, so come and check it out.]( - 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: Hedge fund: An unregistered investment vehicle for high net-worth individuals. [( 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? 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