10/21 Recap

We don’t really have much data this week and none of the companies that really matter to the overall market in terms of weighting are reporting this week, so should be a fairly calm week in terms of news flow. We do have the election 2 weeks away and that probably causes some volatility which you’re seeing in the VIX nearing 20. The SPY does feel weak, we finally touched the 8 ema for the first time in 9 sessions, and bounced. If we do break that, look for that 21 ema(light blue line) to be the next stop. Most of the big guns report next week so until that, this shouldn’t be too eventful a week. The 50 day is about to pull up through the breakout level which is great because that would be a big bounce spot on any pullback.

If there was something to be cautious about the DXY, below, is reclaiming the 200 day today, that is the dollar and a strong dollar is usually not good for equities but in this bizarro market we just keep pushing higher even as the VIX and dollar flash warning signs. The dollar has been straight up since late September and it hasn’t really hit equities at all to this point.

Recent Trades

AMG - In the 10/2 recap here I noted these ITM put sales, the name is up 8% since from 178.45 to nearly 193. These put sales are up over 50% with a month to go.

Today’s Unusual Options Activity

Here is today’s link to the database as always it will expire tomorrow at the open and the rest of today’s trades will be added by the afternoon.