Are we on the way to 5200?

Daily Pit Stop [fstp, logo, header] February 23, 2024 [ag views, logo, header] Stocks rip to all time highs as NVDA takes over Canada Yo Pit Crazies, I spent all morning closing trades in[ Pit Report, Trading Desk, OP Mentoring and Weekly Profit Cycles](. The OP Mentoring trade was the exactly the wrong trade for the environment this week but I managed it to a small gain. That will be a subject for this week since it is not what you trade, but how you manage it. The environment right now is all AI. Nvidia’s (Ticker: NVDA) market cap is bigger than Canada! What the market has a hard time pricing is one way freight trains. Generally traders price puts more expensively because stocks go down faster than they go up. Unless you have AI in your ticker. This strange looking graph below is the Cboe Volatility Index (Ticker VIX).  [fomo] 6 month VIX chart with 1 day candles It is on the cusp on an historic run. [Let’s see what it is and what it the reason.]( - AG  [logo, pit profits] - Weekly Profit Cycles - WIC Feb16 riff SPY Mar22 508/522 call spread VIX Mar20 15 calls closed 13% 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, fvix, header,] The Secret to Trading Earnings Hey Traders! Happy Friday In today's video we'll cover: - Levels in the major indexes - The secret to trading earnings like NVDA [fvix]( [Click to watch the video here!]( - Mark  [fpip] 5200 is Next Hi Shoppers, Holy Shitake!! That’s what Andrew would say. But seriously, what a move. The S&P 500 (Ticker: SPX) was up over 2%, Invesco QQQ Trust (Ticker: QQQ) up almost 3% (thanks NVDA +16%), and the iShares Russell 2000 (Ticker: IWM), not feeling the love so much, was up less than 1%. So where do we go from here, you ask? The SPX chart is very bullish:[fpip]( After that two and half day pullback, SPX opened right on my pitchfork resistance line which is now new support. According to my pitchfork, $5250-$5275 is in our future. It may not happen next week but it will happen. [On to my trade idea on how to play this rally.]( - 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:  Bull call spread - A debit spread with a bullish delta where the long call option is more in the money than the short call option. The potential risk is limited to the initial debit spent, and potential reward is also limited. [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. DISCLAIMER: FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. The materials presented from Option Pit LLC are for your informational and educational purposes only. Neither Option Pit LLC nor its employees offer investment, legal or tax advice of any kind, and the analysis displayed with various tools does not constitute investment, legal or tax advice and should not be interpreted as such. Using the data and analysis contained in the materials for reasons other than the informational and educational purposes intended is at the user’s own risk. DISCLAIMER: OPTION PIT LLC IS NOT AN INVESTMENT ADVISOR OR REGISTERED BROKER. Option Pit LLC is not responsible for any losses that may occur from transactions effected based upon information or analysis contained in the presented materials. Specific trading ideas or strategies discussed in the presentations or materials are entirely illustrative and do not constitute the solicitation of a transaction (or transactions) or a recommendation to execute a particular transaction or implement a particular trading strategy. DISCLAIMER: TRADE AT YOUR OWN RISK; TRADING INVOLVES RISK OF LOSS; SEEK PROFESSIONAL ADVICE. To the extent that you make use of the concepts with the presentation material, you are solely responsible for the applicable trading or investment decision. Trading activity, including options transactions, can involve the risk of loss, so use caution when entering any option transaction. You trade at your own risk, and it is recommended you consult with a financial advisor for investment, legal or tax advice relating to options transactions. Want to change how you receive these emails? You can [Update your preferences]( This email was sent by support@optionpit.com. 1-888-872-3301 [Option Pit]( | 190 S LaSalle Suite 3000 Chicago, IL 60603 | [Privacy Policy](