CPI is a big bopper

Daily Pit Stop Daily Pit Stop                                                                                                      [fstp, logo, header] The biggest online trading summit of the year starts Jan. 15. In addition to more than SIXTY of the trading industry's leading names at Wealth 365, Mark Sebastian and Olivia Voz will be broadcasting a live edition of their profit-powered Trade to Close Show on Wednesday, Jan. 17 at 3 p.m. ET ... And now when you register, you'll be entered to win a FREE six-month membership to a top Option Pit service. [Claim your no-cost seat here.]( [ag views, logo, header] CPI is a big bopper For the entirety of 2023, the CPI number release was a huge market mover, sending the SPDR S&P 500 Trust (Ticker: SPY) up or down 10 points in 3 days after the release. I don’t think that will change Thursday. I own strangles in both the Easy Button and Trading Desk looking for a larger move in SPY or Russell 2000 ETF (Ticker: IWM) with the upside strikes set up to pay well if we see the recent highs. I also own some disaster puts in case the number disappoints everyone. The [Trading Desk](is a service with Mark and Andrew where we try and recreate 1 hour in a trading pit for trade ideas and education. The[Easy Trade Button]( is an option buying service that Andrew runs that rides prevailing momentum with a hedge. A freebie trade idea from the [Easy Trade Button]( in Apache Corp. (Ticker: APA)  Oil stocks were not the “in” trade for 2023. After a stellar 2022 they mostly went sideways to down in 2023. 2024 is a new year but for now the trend looks the same. The way all the oil stocks look is that they are likely to hit the lows of 2023 in 2024 as the Big 7 Tech stocks take over. Every once in a while options get so cheap that I cannot resist them, no matter what the name is.  As long as the duration is long enough. That is where APA comes in. 90 day implied volatility is at 1 year lows and the stock is near one year lows. That is a signal nobody cares about the name right now. That always changes but that means APA can go lower in the short term. [fstp] APA 1 year chart with 1 day candles and 30 day implied volatility on the bottom chart One of my students likes the stock but I liked the strangle, long calls and long puts in different strikes, in the March cycle. If the market keeps hating APA, I will take profits on the puts and wait until the market changes its mind to take profits on the calls. - AG  [logo, pit profits] Want to find YOUR winning fit? Give our Customer Care Team a call at [1-888-872-3301](tel:/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)  [fpri] The Most Important Event of 2024 Hey Income Hunters, During Monday’s [Power Income Free Newsletter](, I laid out what an important test SPX 4700 and a 10-year test of 4.10% was this week … I also promised I would reveal the most important date of 2024 and its potential impact on markets would … Well, yesterday the impact on what may be coming out of Washington plus a continuation of the “Fiscal Dominance” I referred to in Monday’s letter revealed where long-term money is flowing. [Today, I’ll share the most important macro driver of markets for H1 ‘24 and what it means for YOUR long-term general wealth building …]( - Bill  [fvix logo] In today's video, we'll cover: - Why the S&P 500 closed where it did and how it moved - Where QQQ, IWM and MDY could go next - Previewing bank earnings coming soon. - Sizing up CPI and PPI [fstp]( [Click here to watch the video now!]( - Mark  [fpip] Where is This Market Going? Hi Shoppers, Good question, right? We were in the middle of a nice selloff (can you tell what my position was?) and then we get a day like Monday rallying over 60 points on the S&P 500, erasing the previous four day loss. Well, the Japanese candle created on Friday in the Emini S&P 500 March contract told us we were in for a big move: [fpip]( That candle with the very small real body, which is the colored part created by the difference between the opening and closing prices, and very long upper and lower shadows, lines above and below the real body, is called a High Wave Candle. This candle is a signal of mass confusion. The small real body tells us neither the bulls nor the bears are in control of the session. Thus the opening and closing prices are very close in price. The very long upper and lower shadows tells us the market had a huge range where it had a nice rally AND it had a big selloff all in the same session. In this case the daily session. This price action shows the market is uncertain where it is going next. My guess is that most were leaning short (I am one of many that I know of) and we proceeded to rally until all shorts were covered and people hopped on for the ride. So where are we going from here? [If you continue here, I will show you.]( - Licia   [glossary, logo] There are plenty of terms in the trading world that need explaining. The Option Pit Glossary is here to help. Today's phrase is: Collar - This is a short call, long put strategy, where the put strike is below the current underlying price, and the call strike is above the underlying price. Mostly these are done against stock, or as a form of options insurance, on a 1:1:100 call/put/share ratio. [ftsp] All the Right Options. The Option Pit Team brings more than 150 years of experience to you every day. From the trading pits of Chicago to the world's largest banks to the halls of power in DC -- they've done it all. Now they’re collectively focused on one thing: making YOU a better, more profitable trader. Click the button below to schedule a call with our concierge Customer Care Team to find your best fit today. 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