Negative Gamma for NVDA

Today's Pit Stop [FSTP](   [fstp]( MARK-et Open  Hey OP Crew, Griff here with the Chart of the Day. Always easy in hindsight, but the logical trade of the day was Nvidia Corp (Ticker: NVDA). The rally yesterday did produce call buying above, so the $500 strike call wall was solid above and NVDA failed and completed a bearish engulfing candle. NVDA is losing substantial positive gamma on Friday (OpEx) so we should see further downside: [fstp] Let's Go! -Bill  [Pit Profits] 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).  Power Income: Fed Hikes are History … FOMO Rally has Begun … Did you ever see so much excitement over an economic number that was .1% lower than expected? [FPRI] Based on that .1% miss on expectations the market has now removed any chance of more rate hikes … This data is taken from the CME Fed Funds futures market … [FPRI] As you can see above the futures market has also added another rate cut for ’24 …  The message from these changes is critical for your trading …  [You need to read the rest of this letter before getting too bulled-up with FOMO and chasing these insane financial markets higher …]( -Bill  Profits in Pumps: Head and Shoulders Bottom in IWM  Hi Shoppers,  [I called $4500 on the S&P 500 (Ticker: SPX)]( on Sunday, I didn’t expect it to happen all in one day!  Wow what a rally.  The trade I recommended was up 115%.  I sure hope you read these all the way through to the trade idea, there are some good ones.  Before I show you where I think the Russell 2000 Index is going next, I need to tell you about Frank Gregory and how you are going to join him tomorrow night for his live session.  Frank has just returned from a very cool exclusive next generation military arms and equipment show.  Tomorrow night at 7:00 ET, he is going live to tell us all about what he has learned and how we can profit from it.  Sounds pretty cool. [Claim your seat here.](  Now, where do we go from here in the markets?  [If you continue here, I will show you a trade idea in the IShares Russell 2000 Index (Ticker: IWM).]( -Licia  AG’s Views: Don’t Have the OP App? You’re Missing Out!From the Desk of Option Pit Director of Education Andrew Giovinazzi.  On this Monday's Ticker Highlight Show – the Pit Report live session – Licia and I took a hard look at Qualcomm Inc (Ticker: QCOM) before the big CPI rally.  The options were dirt cheap, and Licia liked the chart. With the CPI number, the chip rally continued with QCOM up nearly in a month.  The low IV made me want to own juice as in buying options. I bought 2 calls and 1 puts for $4.77. Today, the package is trading over $7.00 or close to a 50% return.  2 QCOM Dec15 130 call 1.11 $2.25 – funky strangle is $4.75 filling $4.77  1 QCOM Dec15 120 put 2.54 [FSTP] To gain access to the Ticker Highlight Show, all you have to do is subscribe to one of our paid products. [Check them out here.]( - 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: Iron condor: This is similar to an iron butterfly, but the short strikes are out of the money, generally around the 5-25 delta range. For instance, the trader could sell the April 35 put and April 55 call, and buy the April 30 put and April 60 call.  [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](