🚗 Another Monday of Bounceback

[] [The daily rundown of everything happening at Option Pit.]( MARK-et Open Hey OP Crew, Griff here with your Chart of the Day. Another Monday of bounceback in the major indexes after a Friday of fear selling to avoid geopolitical risk over a weekend. The Invesco QQQ TRust ETF (Ticker: QQQ) could not breach the 349-350 area of resistance and now the market must get through earnings, the Fed on Wednesday and the Employment report on Friday … I took advantage of the rally to set a QQQ 349/337/325 put butterfly expiring on Nov10 utilizing SpotGamma option gamma levels to be patient and sell at strong resistance. [( Join me on Thursday to share how you can get an extended free trial of the SpotGamma platform, which is a game changer for all traders … Options are so active that analyzing SpotGamma data can help you anticipate where the stocks and volatility are headed … You will be amazed and I will be broadcasting live events over the next two weeks to show you have maximize SG’s platform … Let’s Go! [ Trader's Edge: A Scary Encounter... I’ll let everyone know what is going on at OP, reveal a scary encounter, walk through key levels in SPX and VIX and lay out the 6 stocks I am watching. [Click here to watch today's video.]( - Mark [( AG's Views: Flat Again ... From the desk of Option Pit Director of Education Andrew Giovinazzi Option Pit has a weekly meeting at 1030 am Eastern on Mondays to discuss the trade we created in the Pit Stop. It is the Love Child of Mark, Griff, Licia and Myself. Ok that sounded weird. If you are an OP Subscriber, [download the app]( and get the show links on the app. Today in the Pit Stop we decided on a General Electric Corp (Ticker: GE) put diagonal calendar spread. As you have noticed, GE has been a bit up and down lately but has not broken through $100. Great earnings got the stock up over $115. Good things are coming to light. [( 3 month chart of GE with 60 day IV in yellow. I bought the GE Dec01 100 puts and sold the GE Nov17 103 puts for even money. I think the 103 puts will go away leaving me with a 100 put which I can buy stock against or sell another put. With the market so unstable we thought working at lower strikes out of the money would be a better place to start. - 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: Meme stocks: Typically stocks that are popular among Reddit and Robinhood users, called that because millennial traders often make memes about stocks they’re trading. [( 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