🚗Powell Speaks, Stocks Dip

[] [The daily rundown of everything happening at Option Pit.]( [.]( MARK-et Open Hey OP Crew, Griff here with your Chart of the Day. What a wild day … After more Powell BS at noon it was difficult to know which way the money would flow. However, once again when it was clear bonds were dead in the water, stocks continued down. [ After failing at the Vol Trigger post Powell’s speech QQQ did exactly what you would expect – they traded down to the Put wall at 360. Now, we head into Oct20 monthly OpEx, and we may get more of the same tomorrow. Win the Week closed a nice QQQ put fly today for 115%. [Join me tomorrow at our 1 p.m. ET Friday Win the Week session for an OpEx deep dive.]( Let’s Go! [ [ - OPTION SHOPPER: XSP Oct19 428 puts closed for a 170% gain - POWER INCOME TRADER: SPY put spread closed for a 110% gain - WIN THE WEEK: QQQ put butterfly closed for a 115% 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=) Pit Report: GLD Chart Analysis This week we are analyzing Gold. Gold is interesting as it seems there are the true believers, the “gold bugs”, who believe everyone should have it in their portfolio and the other side that believe gold doesn’t have any kind of extra value and is just another underlying. I am not going to tell you which is correct but I can analyze the chart for you to be able to trade it short term. Here is my pitchfork for the December Gold Futures contract: [ As you can see, it has been following along pretty well. Most recently it bounced off the lowest support level, bull flagged and is now trading over the last resistance level which is now new support. Today the futures look like they are bull flagging again getting ready for that next leg higher. [Continue here for a look at the SPDR Gold Trust (Ticker: GLD).]( - Licia AG's Views: AT&T Back from the Dead From the desk of Option Pit Director of Education Andrew Giovinazzi It takes a lot of time for companies to fix mistakes. AT&T (Ticker: T) is no exception. Phone, as we used to call it, finally is showing a string of rising earnings after years of disastrous acquisitions. Maybe they learned their lesson. [ The stock is yielding 7.2% at this level. Makes a good wheel trade or Div+ Strategy. The dividend should be secure at these levels, and a 10% return with a few call sales seems within reach. Markets are still soft in the short term, with rates going out of sight and the Middle East a mess. Safety doesn’t sound too bad right now. - 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: Earnings: A company’s quarterly (usually) financial report, which can often act as a volatility catalyst for the underlying stock. [( 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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