Higher lows with SPX near ALL-TIME highs

Daily Pit Stop [fstp, logo, header] February 16, 2024 [ag views, logo, header] Higher lows with SPX near ALL-TIME highs What I mean is VIX is making higher lows with all time highs in SPX. That is a somewhat worrying trend for vol traders like me. I like my rallies to have dropping volatility and right now that ain’t happening. [fomo] This also means that VIX calls are very cheap relative to other market hedges. I bought VIX calls today and SPY call spreads in my Weekly Profits Cycle where we closed a slough of good trades this week. One stinker too but still a good week. As a service WPC is a nice hedge for long delta services like [Trade Zone](. Ask Customer service for a two-fer and I am sure we can work something out. - AG  [logo, pit profits] - MTC closed APA Feb23/09 call calendars for 23% gain - OPM closed VIX Feb14 14.5p/16 strangles for 28% gain 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)  [logo, header, fvix] The Only Stock I'm Watching Next Week Hey Traders! In today’s video we’ll cover: - What I saw in SPX and volatility - The Break down of a winner in SMCI in Trading desk - The only stock I’m watching next week [fvix]( [Click here to watch the video!]( - Mark  [frep] Is this magnificent 7 stock still...magnificent? Hey Traders, The magnificent 7….this used to be a thing… It isn't anymore… It's more like the Triumvirate now….the market is literally having its water carried by 3 stocks… META, MSFT, and NVDA… These three names have been literally dragging the market higher by its collar. The question is…can it last? If so…which of these companies is the one to buy? Are any of these names a sale?  We are going to answer this question and more in this weeks breakdown by picking one of these names to discuss. [Opportunity is at hand…read on.]( - Mark  [fpip] Trade Zone + Two Rules Hi Shoppers, I sure hope you were there last night! [Mark Sebastian revealed his new Trade Zone trading strategy.]( It focuses on all those seemingly untouchable high flying stocks that we all feel like we may be missing out on. Mark uses options to participate in these darlings of the stock market. And his six month trading record trading this strategy is all wins. That’s right, all wins! See for yourself right here. I would also like to address my last trade recommendation. On Wednesday morning, [I talked about IShares 20 Year Treasury Bond ETF (TIcker: TLT) breaking support and trading lower.]( I had recommended buying puts. Let’s take a look at how that panned out. Here is the five minute chart for TLT on Wednesday:  [fpip]( TLT did open lower, but did not stay down for very long. It rallied and kept going. My rule of thumb is once I have decided I would like to take a directional opening position, I always wait for the market to trade for at least one hour before I hop in. Now, if you are closing positions, that is a different story. Your best price may be at the opening. Secondly, I am looking for confirmation of the stock trading my way. If my strategy is buying puts and the stock is trading higher, no trade. [Check out my new trade idea in SPDR Select Sector Fund - Financial (Ticker: XLF).]( - 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:  Dow Jones Industrial Average (INDU) - A closely watched index of 30 blue-chip, American stocks, including Apple (AAPL), IBM (IBM), Johnson & Johnson (JNJ), Pfizer (PFE), and Walmart (WMT). 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