Market Playing with the Big Strikes

Today's Pit Stop [FSTP](   [Spot Gamma, AD,] MARK-et Open  Hey OP Crew, Griff here with the Chart of the Day.  As expected, going into VIX and Monthly OpEx in a positive gamma environment, the market is pinning to its largest strikes. For the S&P 500 Index ETF (Ticker: SPY), that would be 440. [gamma] With CPI tomorrow, we may see a move away from 440. But like today, it will most likely end up back near there into Wednesday's 9 a.m. expiration. However, we should then see a pick-up in volatility and a pullback in stocks into next week. I’ll be going live tomorrow at 10 a.m. ET with my [Win the Week]( and [Power Income Trader]( members for a CPI recap and trade ideas through OpEx. I’d love for you to join me. Let's Go!  [Pit Profits] - TRADING DESK: XSP strangles closed for a 25% gain - TRADING DESK: XSP strangles closed for a 16% gain  Want to find YOUR winning fit? Give our Customer Care Team a call at 1-888-872-3301 Monday-Friday from 9 a.m.-5 p.m. EST. Or email them anytime at [support@optionpit.com](mailto:/support@optionpit.com).  Trader's Edge: Week Look-Ahead: The 5 Stocks on my Watchlist In this week’s look-ahead we’ll cover: - The play I just put on the UVIX - The 5 Stocks that i’m watching closely - Index levels and what matters - Thoughts on bonds [Watch here]( -Mark  AG’s Views: When Nothing Matters, We Go Up!!!From the Desk of Option Pit Director of Education Andrew Giovinazzi.  Weekend adjusted VIX is down around .30 even with VIX cash up .49 today. You see, most Mondays for VIX to stay unchanged VIX cash need to be up around .80 to adjust for the 2 day weekend.  That’s another reason all the Vol Products like VolShares 2x VIX Futures ETF (Ticker: UVIX) are trading at an all time low today. [ftsp-ag] If you made it to the Trading Desk, Mark bought some longer term UVIX puts. [ftsp-ag] 30 Day chart of UVIX with 1 day candles Right now stocks seem bulletproof, so unless we get some ugly surprise before Thanksgiving, I expect it to stay that way and products like UVIX make new lows. - AG  OPTION PIT GLOSSARY [Glossary] There are plenty of terms in the trading world that need explaining. The [Option Pit Glossary]( is here to help. Today’s phrase is: Good-til-canceled (GTC) order: An order to open or close that is active during market hours, and can be canceled during or after market hours. Generally in place until expiration.  [Questions] You can [Update your preferences]( This email was sent by [support@optionpit.com](mailto:/support@optionpit.com). 1-888-872-3301 [Option Pit]( | 190 S LaSalle Suite 3000 Chicago, IL 60603 | [Privacy Policy]( [Stop receiving OptiPub emails](