Oil Bounces Back

Daily Pit Stop [FSTP](   [fstp]( MARK-et Open  Hey OP Crew,  Griff here with the Chart of the Day.  Oil with a nice bounceback today!  It looks like we may have a fake breakdown in the SPDR Energy Select Sector ETF (Ticker: XLE) below the 200-day MA on our hands.  The bottom panel of the chart also shows a positive MACD crossover so this could be the start of a reversal for the Oil and Gas producers. [fstp] Have a great weekend everybody.  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).  Trader's Edge: Long Term Trend Holding True?  On Thursday, despite the tepid 5 point rally in SPX, the VIX actually closed marginally higher…  Over the next week, we head into the Thanksgiving holiday, which typically kicks off an incredibly slow period for markets.  But…given the price action of the VIX…is that long term trend going to hold true…  Or…could the lack of volume next week lead to a reversal in the market?  Friday morning a ton of options expire freeing up the market to move up or down as it will…  Will we see the normal meandering higher?  [I have your answer….read on…](  -Mark  Pit Report: TOST Chart Analysis Ticker of the week: TOST  Each week, I’ll give an overview of a hand picked stock primed to trade and then our team will analyze. Licia Leslie will follow that up with a chart analysis the next day. Bill Griffo will chime in with macro analysis and Andrew Giovinazzi will then finish out the week with a volatility breakdown.  As you may already know, we choose a stock to analyze every week.  Each of us four traders here at Option Pit writes up their analysis of the stock and then we meet for a live session every Monday at 10:30 AM ET.  During our live session we come up with an actionable trade and so far these trades have been doing very well.  This week we are covering the software company TOST  [On to the analysis.]( -Licia  Profits in Pumps: SPY to $453  I am in South Texas visiting my in-laws and boy are we lucky.  Elon Musk’s SpaceX is less than an hour away.  They are planning to launch Starship’s second flight test Saturday morning between 7:00 and 9:00. [fstp] So cool!  We will be on South Padre Island hanging out at the jetties to get the best view.  My son was able to leave school early for Thanksgiving break, so he will be joining us.  We are all very excited.  Enough about me, I sure hope you joined Frank Gregory last night for his live session.  He shared with us his experience with the next generation military arms and equipment investment opportunities.  [You can view it here]( in case you missed it.  [On to a new trade idea in SPY.]( -Licia  AG’s Views:Griff and I Are Thinking Alike From the Desk of Option Pit Director of Education Andrew Giovinazzi. I bought a strangle in ExxonMobil Corp (Ticker: XOM) today.  I realize we have the weekend and holiday, but the prices got so cheap and the traders had squashed the IV so low that I figured it was cheap enough to give it a shot.  What happens at the end of the year are stocks that just underperformed will get some bucks as the pretty stuff gets overbid.  A big issue with oil stocks was hot money flowed in on the Mideast conflict and was trapped.  [fstp] XOM was just $110 a month ago so it is an easy stretch to get back there. I posted my strangle in the Pro Chat Room. [If you want to visit click 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: Premium: The amount in dollars of an option bought or sold. This could be for a spread or mult-ileg trade.  [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](